BCE’s (BCE) Underweight Rating Reiterated at Barclays

Barclays reaffirmed their underweight rating on shares of BCE (NYSE:BCE) (TSE:BCE) in a research note published on Tuesday morning, Marketbeat reports.

Other analysts also recently issued reports about the stock. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley began coverage on shares of BCE in a report on Monday, December 16th. They set an “underweight” rating on the stock. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

BCE Stock Up 0.4 %

Shares of NYSE BCE opened at $23.24 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. BCE has a 12 month low of $21.87 and a 12 month high of $41.51. The firm has a market capitalization of $21.20 billion, a PE ratio of 331.93, a price-to-earnings-growth ratio of 3.87 and a beta of 0.56. The firm has a fifty day simple moving average of $24.77 and a two-hundred day simple moving average of $30.46.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a dividend of $0.737 per share. This is a positive change from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a yield of 12.69%. The ex-dividend date was Monday, December 16th. BCE’s dividend payout ratio (DPR) is 4,028.57%.

Institutional Investors Weigh In On BCE

Institutional investors have recently added to or reduced their stakes in the stock. Forsta AP Fonden grew its holdings in shares of BCE by 36.3% in the fourth quarter. Forsta AP Fonden now owns 213,100 shares of the utilities provider’s stock valued at $4,937,000 after purchasing an additional 56,700 shares in the last quarter. Griffin Asset Management Inc. bought a new stake in shares of BCE during the fourth quarter worth $302,000. Blue Trust Inc. lifted its stake in BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,285 shares during the period. Kingswood Wealth Advisors LLC lifted its stake in BCE by 23.7% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 19,223 shares of the utilities provider’s stock worth $446,000 after acquiring an additional 3,686 shares during the period. Finally, AlphaMark Advisors LLC lifted its stake in BCE by 640.0% in the fourth quarter. AlphaMark Advisors LLC now owns 2,960 shares of the utilities provider’s stock worth $69,000 after acquiring an additional 2,560 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.

About BCE

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.