BCE (NYSE:BCE) Lowered to “Underweight” Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of BCE (NYSE:BCE) (TSE:BCE) from a neutral rating to an underweight rating in a research report released on Friday morning, Marketbeat reports.

Other equities research analysts have also issued reports about the stock. Morgan Stanley started coverage on shares of BCE in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Barclays reissued an “underweight” rating on shares of BCE in a research note on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BCE presently has an average rating of “Hold” and an average price target of $40.50.

BCE Price Performance

Shares of BCE opened at $22.14 on Friday. BCE has a 1-year low of $21.87 and a 1-year high of $38.70. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market capitalization of $20.20 billion, a PE ratio of 184.49, a price-to-earnings-growth ratio of 3.91 and a beta of 0.57. The company’s fifty day moving average price is $24.01 and its 200-day moving average price is $29.72.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. On average, equities research analysts predict that BCE will post 2 EPS for the current year.

BCE Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.6965 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.79 annualized dividend and a dividend yield of 12.58%. BCE’s dividend payout ratio (DPR) is presently 2,350.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its position in shares of BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 790 shares during the last quarter. Blue Trust Inc. raised its holdings in BCE by 1,147.3% in the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 1,285 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in BCE by 121.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 675 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in BCE by 67.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 799 shares during the last quarter. Finally, Vision Financial Markets LLC acquired a new stake in BCE in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 41.46% of the company’s stock.

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.