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

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

A number of other research firms have also commented on BCE. Barclays reissued an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Finally, Bank of America downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BCE presently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Stock Performance

Shares of BCE stock opened at $22.14 on Friday. The stock has a market cap of $20.20 billion, a price-to-earnings ratio of 316.27, a PEG ratio of 3.94 and a beta of 0.57. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. BCE has a 1 year low of $21.87 and a 1 year high of $38.70. The firm’s 50-day moving average is $24.11 and its 200 day moving average is $29.81.

BCE (NYSE:BCE) (TSE:BCE) last issued its earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a net margin of 0.76% and a return on equity of 17.58%. Sell-side analysts anticipate that BCE will post 2.1 EPS for the current fiscal year.

BCE Cuts Dividend

The firm also recently announced 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 yield of 12.58%. BCE’s dividend payout ratio (DPR) is 2,283.33%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BCE. Allworth Financial LP increased its stake in shares of BCE by 217.6% in 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 in the last quarter. Hexagon Capital Partners LLC grew its holdings in BCE by 121.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 675 shares during the period. Blue Trust Inc. increased its position in BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after buying an additional 1,285 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of BCE in the third quarter worth about $51,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of 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. 41.46% of the stock is currently owned by institutional investors.

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.