BCE (NYSE:BCE) Shares Up 0.1% – What’s Next?

BCE Inc. (NYSE:BCE) (TSE:BCE) was up 0.1% during mid-day trading on Monday . The company traded as high as $24.17 and last traded at $23.85. Approximately 720,120 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,454,904 shares. The stock had previously closed at $23.82.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BCE shares. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley began coverage on BCE in a research report on Monday, December 16th. They set an “underweight” rating for the company. Barclays dropped their target price on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, BMO Capital Markets boosted 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.00.

BCE Price Performance

The stock has a 50 day moving average of $26.13 and a two-hundred day moving average of $31.14. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The firm has a market capitalization of $21.57 billion, a P/E ratio of 337.71, a P/E/G ratio of 4.04 and a beta of 0.56.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $0.737 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a yield of 12.47%. BCE’s dividend payout ratio (DPR) is presently 4,214.29%.

Hedge Funds Weigh In On BCE

A number of institutional investors have recently made changes to their positions in BCE. Hexagon Capital Partners LLC boosted its holdings in BCE by 121.2% in the 3rd 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 during the period. Brown Brothers Harriman & Co. acquired a new stake in BCE during the third quarter worth about $51,000. Bruce G. Allen Investments LLC increased its stake in 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 acquiring an additional 1,268 shares during the period. Legacy Investment Solutions LLC acquired a new position in BCE in the 3rd quarter valued at approximately $65,000. Finally, Fairscale Capital LLC acquired a new position in BCE in the 2nd quarter valued at approximately $76,000. 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.