BCE (NYSE:BCE) Upgraded by Barrington Research to Equal Weight Rating

Barrington Research upgraded shares of BCE (NYSE:BCE) (TSE:BCE) from an underperform rating to an equal weight rating in a research note issued to investors on Tuesday morning,BayStreet.CA reports. They currently have $26.00 price objective on the utilities provider’s stock, up from their prior price objective of $21.00.

BCE has been the topic of a number of other reports. Cibc Captl Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Scotiabank reaffirmed an “outperform” rating on shares of BCE in a research report on Monday, January 12th. BMO Capital Markets upgraded BCE from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 11th. CIBC raised BCE from a “neutral” rating to a “sector outperform” rating in a research note on Tuesday, December 9th. Finally, Barclays decreased their price target on BCE from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.00.

BCE Stock Performance

Shares of BCE stock opened at $25.52 on Tuesday. The business’s 50 day moving average price is $23.58 and its 200 day moving average price is $23.77. The company has a market cap of $23.80 billion, a price-to-earnings ratio of 5.31 and a beta of 0.60. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.55 and a current ratio of 0.58. BCE has a one year low of $20.28 and a one year high of $26.01.

BCE (NYSE:BCE) (TSE:BCE) last issued its earnings results on Thursday, November 6th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. BCE had a return on equity of 17.35% and a net margin of 25.62%.The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $6.14 billion. During the same period in the prior year, the business earned $0.75 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. On average, research analysts predict that BCE will post 1.94 EPS for the current year.

BCE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Monday, December 15th. BCE’s dividend payout ratio (DPR) is currently 25.99%.

Hedge Funds Weigh In On BCE

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in BCE by 735.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,161 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 1,022 shares in the last quarter. Hilltop National Bank acquired a new position in shares of BCE in the second quarter valued at approximately $28,000. JCIC Asset Management Inc. acquired a new position in shares of BCE in the third quarter valued at approximately $31,000. Cullen Frost Bankers Inc. increased its stake in BCE by 2,459.6% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,459 shares of the utilities provider’s stock worth $32,000 after buying an additional 1,402 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new stake in BCE during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 41.46% of the company’s stock.

About BCE

BCE Inc (NYSE: BCE) is a Canadian communications, media and entertainment company that operates through its primary subsidiaries, including Bell Canada and Bell Media. As a large integrated telecommunications provider, BCE delivers a broad range of connectivity services and content to residential, business and wholesale customers across Canada. The company combines network infrastructure with media assets to offer bundled communications and entertainment solutions.

On the services side, BCE provides fixed-line and wireless voice services, mobile data, high-speed internet, fibre and broadband access, and television services through platforms such as Bell Fibe and Bell TV.