Edward Jones Downgrades BCE (NYSE:BCE) to Hold

Edward Jones cut shares of BCE (NYSE:BCE) (TSE:BCE) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Marketbeat reports.

A number of other equities analysts have also issued reports on the company. BMO Capital Markets increased their price target on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. Barclays decreased their target price on BCE from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Cibc World Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.33.

BCE Trading Down 1.0 %

Shares of NYSE:BCE opened at $28.84 on Tuesday. The company has a 50 day moving average of $34.00 and a 200-day moving average of $33.68. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 2.00. The firm has a market cap of $26.31 billion, a P/E ratio of 18.14, a P/E/G ratio of 5.36 and a beta of 0.59. BCE has a twelve month low of $28.64 and a twelve month high of $41.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ESL Trust Services LLC acquired a new stake in shares of BCE during the first quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV raised its stake in BCE by 3,480.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 1,044 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 675 shares in the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of BCE by 60.0% in the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after buying an additional 600 shares during the period. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after buying an additional 1,268 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

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.