BCE (NYSE:BCE) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of BCE (NYSE:BCE) (TSE:BCE) in a report released on Monday morning. The firm issued an underweight rating on the utilities provider’s stock.

Several other equities research analysts have also recently issued reports on BCE. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Barclays cut their target price on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. 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 lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.00.

BCE Stock Performance

NYSE:BCE opened at $23.88 on Monday. The stock has a 50-day moving average price of $29.31 and a 200 day moving average price of $32.32. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. BCE has a 12-month low of $23.82 and a 12-month high of $41.77. The stock has a market capitalization of $21.78 billion, a P/E ratio of 341.07, a P/E/G ratio of 4.04 and a beta of 0.54.

BCE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a dividend yield of 12.35%. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is currently 4,214.29%.

Institutional Investors Weigh In On BCE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its holdings in shares of BCE by 121.2% in the 3rd 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 period. Brown Brothers Harriman & Co. bought a new stake in BCE in the third quarter worth $51,000. Bruce G. Allen Investments LLC boosted 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 buying an additional 1,268 shares during the period. Legacy Investment Solutions LLC purchased a new position in BCE during the third quarter worth $65,000. Finally, Fairscale Capital LLC bought a new position in BCE during the second quarter valued at $76,000. 41.46% of the stock is currently owned by hedge funds and other 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.