Brookfield Business Partners L.P. (NYSE:BBU) Announces $0.06 Quarterly Dividend

Brookfield Business Partners L.P. (NYSE:BBU) announced a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.0625 per share by the business services provider on Monday, June 30th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, May 30th.

Brookfield Business Partners has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brookfield Business Partners to earn $5.84 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 4.3%.

Brookfield Business Partners Stock Down 2.0 %

Shares of Brookfield Business Partners stock opened at $21.25 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.50 and a debt-to-equity ratio of 2.12. Brookfield Business Partners has a twelve month low of $16.85 and a twelve month high of $26.75. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -43.37 and a beta of 1.28. The company’s 50 day moving average is $22.22 and its 200 day moving average is $23.05.

Analyst Upgrades and Downgrades

BBU has been the topic of a number of research reports. National Bankshares dropped their price target on Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Royal Bank of Canada lowered their target price on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Scotiabank cut their price target on Brookfield Business Partners from $33.00 to $29.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 24th. CIBC lowered their price objective on shares of Brookfield Business Partners from $34.00 to $30.00 and set an “outperformer” rating on the stock in a research note on Monday, April 28th. Finally, BMO Capital Markets boosted their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.00.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.