BCE Inc. (NYSE:BCE) Receives $49.00 Average PT from Brokerages

BCE Inc. (NYSE:BCE) (TSE:BCE) has been given a consensus rating of “Hold” by the seven analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $49.00.

A number of equities research analysts have weighed in on the stock. BMO Capital Markets reissued a “market perform” rating and set a $46.00 target price (down from $54.00) on shares of BCE in a report on Tuesday, April 2nd. TD Securities lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays reduced their price target on shares of BCE from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. cut their target price on shares of BCE from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Finally, Argus lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Monday, March 4th.

BCE Price Performance

Shares of NYSE:BCE opened at $32.41 on Friday. The firm has a 50 day moving average of $35.54 and a 200-day moving average of $37.96. The stock has a market capitalization of $29.56 billion, a PE ratio of 19.17, a PEG ratio of 4.28 and a beta of 0.56. The company has a current ratio of 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 1.84. BCE has a 12 month low of $32.00 and a 12 month high of $48.38.

BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, February 8th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. BCE had a net margin of 8.82% and a return on equity of 17.13%. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.82 billion. On average, equities research analysts predict that BCE will post 2.26 EPS for the current fiscal year.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.742 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from BCE’s previous quarterly dividend of $0.70. This represents a $2.97 annualized dividend and a yield of 9.16%. BCE’s payout ratio is currently 174.56%.

Hedge Funds Weigh In On BCE

Hedge funds and other institutional investors have recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec grew its holdings in BCE by 53.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,375,600 shares of the utilities provider’s stock worth $742,107,000 after purchasing an additional 4,661,300 shares during the period. American Century Companies Inc. lifted its position in BCE by 400.8% during the third quarter. American Century Companies Inc. now owns 3,570,323 shares of the utilities provider’s stock valued at $136,294,000 after purchasing an additional 2,857,340 shares during the period. Goldman Sachs Group Inc. raised its position in BCE by 171.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,284,802 shares of the utilities provider’s stock worth $168,736,000 after acquiring an additional 2,708,625 shares during the period. Norges Bank bought a new position in BCE in the fourth quarter worth approximately $117,492,000. Finally, FIL Ltd increased its stake in shares of BCE by 18.8% in the fourth quarter. FIL Ltd now owns 14,007,515 shares of the utilities provider’s stock worth $551,505,000 after purchasing an additional 2,217,262 shares in the last quarter. 41.46% of the stock is owned by 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.