Brookfield Business Partners (NYSE:BBU) Price Target Raised to $43.00 at National Bankshares

Brookfield Business Partners (NYSE:BBU) had its price target upped by National Bankshares from $39.00 to $43.00 in a research note released on Friday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the business services provider’s stock.

A number of other research analysts have also issued reports on BBU. Desjardins upped their price target on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada upped their target price on Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Wall Street Zen cut Brookfield Business Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Zacks Research lowered Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 30th. Finally, Scotiabank set a $39.00 target price on Brookfield Business Partners and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.50.

Brookfield Business Partners Stock Down 9.7%

Shares of BBU stock traded down $3.30 during trading hours on Friday, reaching $30.56. 89,985 shares of the company’s stock were exchanged, compared to its average volume of 67,652. Brookfield Business Partners has a 1 year low of $18.63 and a 1 year high of $36.90. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. The stock has a market cap of $2.71 billion, a PE ratio of -16.98 and a beta of 1.39. The stock’s fifty day moving average price is $31.73 and its two-hundred day moving average price is $27.33.

Brookfield Business Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, November 28th. Brookfield Business Partners’s dividend payout ratio (DPR) is currently -13.89%.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds have recently bought and sold shares of the stock. BROOKFIELD Corp ON increased its holdings in shares of Brookfield Business Partners by 72.5% during the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock valued at $1,035,806,000 after purchasing an additional 18,549,503 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Brookfield Business Partners by 1.6% during the third quarter. TD Waterhouse Canada Inc. now owns 1,119,781 shares of the business services provider’s stock valued at $35,513,000 after buying an additional 17,508 shares during the period. AGF Management Ltd. grew its position in Brookfield Business Partners by 58.2% during the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock valued at $8,030,000 after buying an additional 126,189 shares during the period. JPMorgan Chase & Co. increased its holdings in Brookfield Business Partners by 796.3% in the third quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock valued at $10,530,000 after buying an additional 286,872 shares in the last quarter. Finally, Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Business Partners in the first quarter worth about $3,997,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

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.