BCE Inc. (NYSE:BCE) Receives Average Rating of “Hold” from Analysts

BCE Inc. (NYSE:BCE) (TSE:BCE) has received an average rating of “Hold” from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $45.00.

A number of research firms recently commented on BCE. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. BMO Capital Markets upped their target price on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. Morgan Stanley began coverage on BCE in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Barclays cut their target price on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its position in BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 675 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of BCE in the 3rd quarter valued at approximately $51,000. Bruce G. Allen Investments LLC boosted its stake in shares of BCE by 321.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after buying an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in BCE during the third quarter worth $65,000. Finally, Fairscale Capital LLC purchased a new position in BCE in the second quarter worth $76,000. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Price Performance

BCE stock opened at $22.90 on Thursday. The business has a 50 day moving average price of $27.91 and a 200 day moving average price of $31.78. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 327.14, a PEG ratio of 4.04 and a beta of 0.54. BCE has a fifty-two week low of $22.51 and a fifty-two week high of $41.77.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 12.87%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is 4,214.29%.

BCE Company Profile

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.