BCE Inc. (NYSE:BCE) Receives $45.00 Average PT from Analysts

BCE Inc. (NYSE:BCE) (TSE:BCE) has received a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $45.00.

A number of analysts have commented on the stock. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays cut their target price on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. National Bank Financial downgraded BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley started coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating on the stock. Finally, Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On BCE

Several hedge funds and other institutional investors have recently made changes to their positions in BCE. AE Wealth Management LLC grew its holdings in BCE by 2.6% during the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock worth $466,000 after buying an additional 367 shares in the last quarter. Caldwell Sutter Capital Inc. grew its stake in shares of BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock worth $413,000 after acquiring an additional 445 shares in the last quarter. First Affirmative Financial Network lifted its position in shares of BCE by 6.1% during the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 472 shares in the last quarter. Prospera Financial Services Inc lifted its position in shares of BCE by 6.8% during the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 478 shares in the last quarter. Finally, FMR LLC lifted its position in shares of BCE by 6.8% during the third quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 596 shares in the last quarter. 41.46% of the stock is owned by institutional investors.

BCE Trading Up 0.2 %

NYSE:BCE opened at $23.16 on Thursday. BCE has a 52 week low of $22.90 and a 52 week high of $41.77. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The firm’s fifty day moving average is $28.53 and its 200-day moving average is $32.03. The firm has a market cap of $21.13 billion, a P/E ratio of 330.86, a P/E/G ratio of 4.04 and a beta of 0.54.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.737 dividend. This is a boost from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.73%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio (DPR) is currently 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.