BCE (NYSE:BCE) Stock Rating Lowered by Edward Jones

Edward Jones cut shares of BCE (NYSE:BCE) (TSE:BCE) from a buy rating to a hold rating in a research report released on Tuesday morning, MarketBeat Ratings reports.

A number of other analysts have also recently commented on the company. Cibc World Mkts raised BCE from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Barclays lowered their price target on BCE from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Finally, BMO Capital Markets lifted their price target on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.33.

BCE Stock Down 2.3 %

BCE stock opened at $28.09 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.65 and a quick ratio of 0.62. The stock has a market capitalization of $25.63 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 4.87 and a beta of 0.59. BCE has a 1-year low of $27.29 and a 1-year high of $41.77. The business has a fifty day moving average price of $33.87 and a 200-day moving average price of $33.64.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 10.49%. The ex-dividend date is Monday, December 16th. This is a boost from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is 186.16%.

Hedge Funds Weigh In On BCE

Several institutional investors and hedge funds have recently modified their holdings of BCE. ESL Trust Services LLC acquired a new position in BCE in the 1st quarter worth about $31,000. Massmutual Trust Co. FSB ADV raised its holdings in BCE by 3,480.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,044 shares during the period. 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 worth $43,000 after purchasing an additional 675 shares during the period. Brown Lisle Cummings Inc. raised its holdings in BCE by 60.0% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 600 shares during the period. Finally, Bruce G. Allen Investments LLC raised its holdings in BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 1,268 shares during the period. Hedge funds and other institutional investors 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.