BCE (NYSE:BCE) Price Target Cut to $30.00 by Analysts at Barclays

BCE (NYSE:BCE) (TSE:BCE) had its target price reduced by Barclays from $34.00 to $30.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other research analysts also recently issued reports on the company. Edward Jones downgraded BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Cibc World Mkts upgraded shares of BCE from a “hold” rating to a “strong-buy” rating in a research note 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. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Finally, BMO Capital Markets boosted their price objective on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BCE presently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Performance

NYSE BCE opened at $26.83 on Monday. The firm’s 50 day simple moving average is $33.13 and its 200 day simple moving average is $33.46. BCE has a 1 year low of $26.78 and a 1 year high of $41.77. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $24.48 billion, a price-to-earnings ratio of 383.29, a P/E/G ratio of 4.28 and a beta of 0.59.

BCE Increases Dividend

The company 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 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 10.99%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is presently 4,214.29%.

Institutional Trading of BCE

Hedge funds have recently bought and sold shares of the company. ESL Trust Services LLC purchased a new position in shares of BCE during the first quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV raised its position 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 lifted 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 last quarter. Brown Brothers Harriman & Co. purchased a new stake in BCE during the third quarter valued at about $51,000. Finally, Brown Lisle Cummings Inc. boosted its position in BCE by 60.0% during the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock valued at $52,000 after buying an additional 600 shares during the period. 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.