BCE Inc. (NYSE:BCE) Given Consensus Recommendation of “Hold” by Analysts

BCE Inc. (NYSE:BCE) (TSE:BCE) has been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the stock, 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 issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $45.00.

Several equities research analysts recently weighed in on BCE shares. Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Barclays dropped their target price on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. BMO Capital Markets lifted their price objective on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Finally, National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th.

BCE Stock Performance

Shares of BCE opened at $22.95 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The stock has a market cap of $20.94 billion, a P/E ratio of 327.86, a P/E/G ratio of 4.04 and a beta of 0.56. The business’s 50 day moving average price is $25.61 and its 200-day moving average price is $30.94. BCE has a 52 week low of $22.18 and a 52 week high of $41.77.

BCE Increases Dividend

The firm 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. This represents a $2.95 annualized dividend and a dividend yield of 12.85%. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio is currently 4,214.29%.

Hedge Funds Weigh In On BCE

Large investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC increased its stake in BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 675 shares during the period. Brown Brothers Harriman & Co. purchased a new position in BCE in the 3rd quarter worth about $51,000. Bruce G. Allen Investments LLC lifted its holdings in BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after buying an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in BCE in the 3rd quarter valued at about $65,000. Finally, Fairscale Capital LLC bought a new position in BCE in the 2nd quarter worth about $76,000. Institutional investors own 41.46% of the company’s stock.

About BCE

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.