Morgan Stanley Initiates Coverage on BCE (NYSE:BCE)

Morgan Stanley started coverage on shares of BCE (NYSE:BCE - Free Report) TSE: BCE in a research note published on Monday. The brokerage issued an underweight rating on the utilities provider's stock.

BCE has been the subject of several other research reports. National Bank Financial downgraded BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Canaccord Genuity Group cut shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Edward Jones lowered shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted their price objective on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group reiterated a "hold" rating on shares of BCE in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, BCE presently has an average rating of "Hold" and an average price target of $45.00.

BCE Price Performance

Shares of BCE stock traded down $0.92 during midday trading on Monday, reaching $23.88. 7,752,325 shares of the company traded hands, compared to its average volume of 2,501,203. The firm's 50 day simple moving average is $29.31 and its two-hundred day simple moving average is $32.32. The firm has a market cap of $21.78 billion, a PE ratio of 341.07, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54. 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 $23.82 and a 1-year high of $41.77.

BCE Increases Dividend

The firm also recently declared 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 represents a $2.95 dividend on an annualized basis and a dividend yield of 12.35%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from BCE's previous quarterly dividend of $0.73. BCE's dividend payout ratio is currently 4,214.29%.

Institutional Trading of BCE

Hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its holdings in shares of BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock worth $43,000 after acquiring an additional 675 shares during the period. Brown Brothers Harriman & Co. acquired a new position in BCE during the third quarter worth approximately $51,000. Bruce G. Allen Investments LLC raised its stake in BCE by 321.0% during the third 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. Legacy Investment Solutions LLC acquired a new position in shares of BCE in the 3rd quarter valued at $65,000. Finally, Fairscale Capital LLC purchased a new stake in shares of BCE during the 2nd quarter valued at $76,000. 41.46% of the stock is owned by institutional investors and hedge funds.

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.