BCE (NYSE:BCE) Earns Underweight Rating from Barclays

Barclays reissued their underweight rating on shares of BCE (NYSE:BCE) (TSE:BCE) in a report released on Tuesday morning, MarketBeat.com reports.

Several other brokerages also recently weighed in on BCE. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Bank of America lowered BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.00.

BCE Stock Performance

BCE opened at $23.24 on Tuesday. BCE has a 52-week low of $21.87 and a 52-week high of $41.51. The firm’s 50-day moving average price is $24.77 and its 200-day moving average price is $30.46. 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 company has a market cap of $21.20 billion, a P/E ratio of 331.93, a price-to-earnings-growth ratio of 3.87 and a beta of 0.56.

BCE Increases Dividend

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

Institutional Investors Weigh In On BCE

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in BCE by 1,147.3% during the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,285 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 675 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of BCE by 67.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 799 shares during the period. Brown Brothers Harriman & Co. acquired a new position in BCE during the third quarter worth $51,000. Finally, Bruce G. Allen Investments LLC grew its holdings in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 1,268 shares during the period. Hedge funds and other institutional investors own 41.46% of the company’s stock.

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.