BCE (NYSE:BCE) Given New $38.00 Price Target at Barclays

BCE (NYSE:BCEFree Report) (TSE:BCE) had its price target lowered by Barclays from $40.00 to $38.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

Several other brokerages have also weighed in on BCE. JPMorgan Chase & Co. dropped their target price on BCE from $58.00 to $54.00 and set a neutral rating on the stock in a research report on Friday. TD Securities lowered BCE from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, Canaccord Genuity Group raised BCE from a hold rating to a buy rating in a research report on Monday, October 23rd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $51.00.

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BCE Price Performance

Shares of NYSE BCE opened at $38.00 on Monday. BCE has a 1-year low of $36.15 and a 1-year high of $48.38. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.65 and a quick ratio of 0.61. The business’s fifty day moving average price is $40.04 and its two-hundred day moving average price is $39.84. The firm has a market capitalization of $34.67 billion, a PE ratio of 22.49, a P/E/G ratio of 5.36 and a beta of 0.59.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.742 per share. This represents a $2.97 dividend on an annualized basis and a dividend yield of 7.81%. This is a positive change from BCE’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, March 14th. BCE’s dividend payout ratio (DPR) is 171.01%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. ST Germain D J Co. Inc. acquired a new position in shares of BCE during the second quarter valued at $25,000. CGC Financial Services LLC bought a new position in BCE during the second quarter valued at about $27,000. Cape Investment Advisory Inc. boosted its stake in BCE by 84.1% during the fourth quarter. Cape Investment Advisory Inc. now owns 659 shares of the utilities provider’s stock valued at $26,000 after buying an additional 301 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in BCE by 239.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 707 shares of the utilities provider’s stock valued at $28,000 after buying an additional 499 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in BCE during the third quarter valued at about $30,000. 42.30% of the stock is owned by institutional investors and hedge funds.

BCE Company Profile

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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 three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communication products and services, as well as consumer electronics products.

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Analyst Recommendations for BCE (NYSE:BCE)

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