BCE’s (BCE) Hold Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their hold rating on shares of BCE (NYSE:BCE) (TSE:BCE) in a report released on Tuesday morning.

Other equities analysts have also recently issued reports about the stock. Cibc World Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays cut their target price on shares of BCE from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. BMO Capital Markets increased their target price on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Finally, Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BCE presently has a consensus rating of “Hold” and a consensus target price of $46.33.

BCE Price Performance

Shares of BCE stock opened at $28.09 on Tuesday. BCE has a 52-week low of $27.29 and a 52-week high of $41.77. The stock has a market cap of $25.63 billion, a PE ratio of 17.67, a PEG ratio of 4.87 and a beta of 0.59. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.62 and a current ratio of 0.65. The firm’s 50 day moving average price is $33.87 and its two-hundred day moving average price is $33.64.

BCE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.737 per share. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. This represents a $2.95 annualized dividend and a yield of 10.49%. BCE’s payout ratio is presently 186.16%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. AE Wealth Management LLC raised its stake 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 acquiring an additional 367 shares in the last quarter. Caldwell Sutter Capital Inc. raised its stake in BCE by 3.9% during the third 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 increased its stake in shares of BCE by 6.1% in the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock valued at $285,000 after buying an additional 472 shares during the period. Prospera Financial Services Inc increased its stake in shares of BCE by 6.8% in the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock valued at $262,000 after buying an additional 478 shares during the period. Finally, Simplicity Wealth LLC increased its stake in shares of BCE by 4.7% in the second quarter. Simplicity Wealth LLC now owns 11,331 shares of the utilities provider’s stock valued at $367,000 after buying an additional 509 shares during the period. Institutional investors and hedge funds 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.