BCE Inc. (NYSE:BCE) Given Consensus Rating of “Hold” by Brokerages

BCE Inc. (NYSE:BCE) (TSE:BCE) has been assigned an average recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $45.00.

Several equities analysts have commented on the company. Morgan Stanley began coverage on BCE in a report on Monday. They issued an “underweight” rating for the company. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. BMO Capital Markets lifted their price target on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, September 19th. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th.

Institutional Investors Weigh In On BCE

Several institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC boosted its stake 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 acquiring an additional 675 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of BCE during the third quarter worth about $51,000. Bruce G. Allen Investments LLC grew its position in shares of BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 1,268 shares during the period. Legacy Investment Solutions LLC bought a new stake in BCE during the 3rd quarter worth approximately $65,000. Finally, Fairscale Capital LLC acquired a new position in shares of BCE in the second quarter valued at approximately $76,000. Institutional investors and hedge funds own 41.46% of the company’s stock.

BCE Stock Down 0.8 %

Shares of BCE stock opened at $23.40 on Thursday. The stock has a 50 day moving average of $28.92 and a 200-day moving average of $32.18. The firm has a market cap of $21.35 billion, a PE ratio of 334.29, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. BCE has a 12 month low of $23.03 and a 12 month 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 given a dividend of $0.737 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.60%. This is an increase from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is presently 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.