Analysts Set BCE Inc. (NYSE:BCE) Price Target at $45.00

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE has received a consensus rating of "Hold" from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $45.00.

Several research firms have recently weighed in on BCE. Canaccord Genuity Group downgraded shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Morgan Stanley initiated coverage on BCE in a report on Monday, December 16th. They issued an "underweight" rating for the company. Barclays dropped their price target on BCE from $34.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Canaccord Genuity Group restated a "hold" rating on shares of BCE in a report on Tuesday, November 5th. Finally, National Bank Financial downgraded shares of BCE from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th.

BCE Trading Down 2.9 %

Shares of BCE opened at $22.95 on Monday. The firm has a market capitalization of $20.94 billion, a price-to-earnings ratio of 327.86, a PEG ratio of 4.04 and a beta of 0.56. 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 $22.18 and a 1-year high of $41.77. The company has a 50-day moving average of $25.61 and a 200 day moving average of $30.94.

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 given a $0.737 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.85%. This is an increase from BCE's previous quarterly dividend of $0.73. BCE's payout ratio is presently 4,214.29%.

Institutional Investors Weigh In On BCE

A number of hedge funds and other institutional investors have recently bought and sold shares of BCE. Hexagon Capital Partners LLC increased its position in shares of BCE by 121.2% during 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 in the last quarter. Brown Brothers Harriman & Co. purchased a new position in BCE during the 3rd quarter worth $51,000. Bruce G. Allen Investments LLC increased its position 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 acquired a new position in BCE during the 3rd quarter valued at about $65,000. Finally, Fairscale Capital LLC purchased a new stake in BCE in the second quarter valued at about $76,000. 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.