Brookfield Business Partners L.P. (BBU) to Issue Quarterly Dividend of $0.06 on June 30th

Brookfield Business Partners L.P. (NYSE:BBUGet Rating) announced a quarterly dividend on Thursday, May 5th, Zacks reports. Shareholders of record on Tuesday, May 31st will be given a dividend of 0.063 per share by the business services provider on Thursday, June 30th. This represents a $0.25 annualized dividend and a yield of 1.13%. The ex-dividend date is Friday, May 27th. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06.

Brookfield Business Partners has a dividend payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Brookfield Business Partners to earn $6.70 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 3.7%.

Brookfield Business Partners stock traded down $0.66 during mid-day trading on Wednesday, hitting $22.31. The company had a trading volume of 40,456 shares, compared to its average volume of 29,261. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $26.36 and its two-hundred day moving average price is $38.41. Brookfield Business Partners has a 12 month low of $20.26 and a 12 month high of $51.98. The company has a market capitalization of $1.74 billion, a PE ratio of -202.80 and a beta of 1.54.

Brookfield Business Partners (NYSE:BBUGet Rating) last announced its quarterly earnings results on Friday, May 6th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($1.31). Brookfield Business Partners had a net margin of 0.38% and a return on equity of 1.59%. During the same period in the prior year, the company earned $3.67 EPS. Equities research analysts anticipate that Brookfield Business Partners will post 6.03 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. UBS Group AG increased its stake in shares of Brookfield Business Partners by 31.5% during the 1st quarter. UBS Group AG now owns 6,133 shares of the business services provider’s stock worth $189,000 after purchasing an additional 1,468 shares in the last quarter. Wells Fargo & Company MN grew its stake in Brookfield Business Partners by 7.6% in the 2nd quarter. Wells Fargo & Company MN now owns 4,951 shares of the business services provider’s stock worth $229,000 after acquiring an additional 350 shares during the period. Susquehanna International Group LLP grew its stake in Brookfield Business Partners by 592.4% in the 4th quarter. Susquehanna International Group LLP now owns 9,576 shares of the business services provider’s stock worth $441,000 after acquiring an additional 8,193 shares during the period. Invesco Ltd. grew its stake in Brookfield Business Partners by 38.9% in the 4th quarter. Invesco Ltd. now owns 135,506 shares of the business services provider’s stock worth $6,240,000 after acquiring an additional 37,953 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Brookfield Business Partners by 2.5% in the 1st quarter. 1832 Asset Management L.P. now owns 1,337,835 shares of the business services provider’s stock worth $40,399,000 after acquiring an additional 33,160 shares during the period. Institutional investors own 74.20% of the company’s stock.

BBU has been the subject of a number of research reports. National Bankshares dropped their price target on Brookfield Business Partners from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, May 9th. National Bank Financial cut their price target on Brookfield Business Partners from $68.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, March 16th. Zacks Investment Research cut Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 22nd. TheStreet raised Brookfield Business Partners from a “d” rating to a “c-” rating in a research report on Wednesday, March 23rd. Finally, Desjardins boosted their price objective on Brookfield Business Partners from $57.00 to $59.00 in a report on Monday, February 7th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $50.50.

Brookfield Business Partners Company Profile (Get Rating)

Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.

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Dividend History for Brookfield Business Partners (NYSE:BBU)

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