BCE (NYSE:BCE) Downgraded by JPMorgan Chase & Co. to “Underweight”

JPMorgan Chase & Co. cut shares of BCE (NYSE:BCE) (TSE:BCE) from a neutral rating to an underweight rating in a research note issued to investors on Friday, MarketBeat.com reports.

BCE has been the subject of a number of other reports. Morgan Stanley assumed coverage on shares of BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Barclays reissued an “underweight” rating on shares of BCE in a research note on Tuesday, January 21st. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Finally, Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.00.

BCE Stock Performance

NYSE BCE opened at $22.14 on Friday. The company has a 50-day simple moving average of $24.11 and a two-hundred day simple moving average of $29.81. BCE has a 12-month low of $21.87 and a 12-month high of $38.70. The firm 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 quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26.

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

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.6965 per share. The ex-dividend date is Friday, March 14th. This represents a $2.79 dividend on an annualized basis and a dividend yield of 12.58%. BCE’s dividend payout ratio (DPR) is 2,283.33%.

Institutional Investors Weigh In On BCE

Several hedge funds have recently made changes to their positions in BCE. Allworth Financial LP lifted its position in BCE by 217.6% during the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock valued at $27,000 after buying an additional 790 shares during the period. Blue Trust Inc. increased its stake in shares of BCE by 1,147.3% in the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,285 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 675 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in BCE by 67.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 799 shares in the last quarter. Finally, Vision Financial Markets LLC purchased a new stake in BCE in the fourth quarter worth about $49,000. 41.46% of the stock is currently owned by institutional investors.

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.