BCE (NYSE:BCE) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of BCE (NYSE:BCE) (TSE:BCE) in a research report released on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $39.00 target price on the utilities provider’s stock.

A number of other analysts have also recently issued reports on BCE. Morgan Stanley began coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. JPMorgan Chase & Co. cut BCE from a “neutral” rating to an “underweight” rating in a report on Friday, February 7th. Canaccord Genuity Group cut BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Barclays restated an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Finally, Edward Jones cut BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.00.

BCE Stock Performance

NYSE:BCE opened at $23.40 on Tuesday. The firm has a market cap of $21.57 billion, a price-to-earnings ratio of 194.96, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57. BCE has a 1-year low of $21.87 and a 1-year high of $37.33. The firm’s fifty day moving average price is $23.40 and its 200 day moving average price is $28.72. 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 (NYSE:BCE) (TSE:BCE) last released its quarterly 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 return on equity of 17.89% and a net margin of 0.99%. On average, sell-side analysts expect that BCE will post 1.94 EPS for the current year.

BCE Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.6965 per share. This represents a $2.79 annualized dividend and a dividend yield of 11.91%. The ex-dividend date of this dividend is Friday, March 14th. BCE’s dividend payout ratio (DPR) is currently 2,350.00%.

Hedge Funds Weigh In On BCE

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bernard Wealth Management Corp. purchased a new position in shares of BCE during the 4th quarter valued at approximately $26,000. Polar Asset Management Partners Inc. raised its position in shares of BCE by 197.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the utilities provider’s stock valued at $985,000 after acquiring an additional 28,191 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of BCE by 440.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 401,078 shares of the utilities provider’s stock valued at $9,294,000 after acquiring an additional 326,894 shares in the last quarter. Twinbeech Capital LP acquired a new stake in shares of BCE during the 4th quarter valued at approximately $1,933,000. Finally, Two Sigma Investments LP acquired a new stake in shares of BCE during the 4th quarter valued at approximately $1,075,000. 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.