BCE (NYSE:BCE – Free Report) (TSE:BCE) had its target price reduced by JPMorgan Chase & Co. from $58.00 to $54.00 in a report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.
A number of other research firms also recently weighed in on BCE. TD Securities downgraded BCE from a buy rating to a hold rating in a research report on Friday, February 2nd. Canaccord Genuity Group upgraded BCE from a hold rating to a buy rating in a research report on Monday, October 23rd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $51.00.
BCE Stock Performance
BCE Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.742 dividend. This is a boost from BCE’s previous quarterly dividend of $0.70. This represents a $2.97 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date of this dividend is Thursday, March 14th. BCE’s payout ratio is 171.01%.
Hedge Funds Weigh In On BCE
A number of large investors have recently bought and sold shares of BCE. Bank of Montreal Can purchased a new position in BCE in the 2nd quarter worth approximately $1,543,572,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of BCE by 53.5% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,375,600 shares of the utilities provider’s stock valued at $742,107,000 after buying an additional 4,661,300 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of BCE by 50.7% during the second quarter. The Manufacturers Life Insurance Company now owns 9,114,055 shares of the utilities provider’s stock valued at $415,399,000 after buying an additional 3,064,624 shares during the period. American Century Companies Inc. increased its stake in shares of BCE by 400.8% during the third quarter. American Century Companies Inc. now owns 3,570,323 shares of the utilities provider’s stock valued at $136,294,000 after buying an additional 2,857,340 shares during the period. Finally, Norges Bank purchased a new position in shares of BCE during the fourth quarter valued at approximately $117,492,000. 42.30% of the stock is owned by hedge funds and other institutional investors.
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 three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communication products and services, as well as consumer electronics products.
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