Zacks Investment Research upgraded shares of BT Group (NYSE:BT) from a sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “BT is one of the world’s leading providers of communications services and solutions, serving customers in more than 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, BT Retail, BT Wholesale and Openreach. British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York. “
BT has been the subject of several other research reports. Credit Suisse Group downgraded shares of BT Group to a neutral rating and lowered their target price for the company from GBX 360 ($4.85) to GBX 310 ($4.17) in a research note on Monday, October 9th. Macquarie reaffirmed an outperform rating and issued a GBX 355 ($4.78) target price on shares of BT Group in a research note on Tuesday, September 12th. Citigroup downgraded shares of BT Group from a buy rating to a hold rating in a research note on Monday, October 9th. Deutsche Bank reaffirmed a sell rating and issued a GBX 265 ($3.57) target price on shares of BT Group in a research note on Thursday, September 14th. Finally, Beaufort Securities downgraded shares of BT Group to a hold rating and lowered their target price for the company from GBX 340 ($4.58) to GBX 265 ($3.57) in a research note on Friday, November 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $317.18.
The business also recently declared a None dividend, which will be paid on Monday, February 12th. Stockholders of record on Friday, December 29th will be issued a $0.297 dividend. This represents a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, December 28th. BT Group’s dividend payout ratio (DPR) is presently 91.35%.
Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of BT Group by 22.8% in the second quarter. Royal Bank of Canada now owns 1,245,026 shares of the utilities provider’s stock valued at $24,166,000 after buying an additional 230,781 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in BT Group by 1,839.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,048,354 shares of the utilities provider’s stock worth $20,349,000 after purchasing an additional 994,311 shares during the last quarter. Sit Investment Associates Inc. boosted its holdings in BT Group by 2.3% during the third quarter. Sit Investment Associates Inc. now owns 737,900 shares of the utilities provider’s stock worth $14,197,000 after purchasing an additional 16,820 shares during the last quarter. Aperio Group LLC boosted its holdings in BT Group by 40.8% during the third quarter. Aperio Group LLC now owns 497,907 shares of the utilities provider’s stock worth $9,580,000 after purchasing an additional 144,367 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in BT Group by 10.2% during the third quarter. Wells Fargo & Company MN now owns 431,485 shares of the utilities provider’s stock worth $8,302,000 after purchasing an additional 40,037 shares during the last quarter. Institutional investors own 0.96% of the company’s stock.
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BT Group Company Profile
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