BCE (NYSE:BCE) Trading 0.5% Higher – What’s Next?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s stock price was up 0.5% during mid-day trading on Thursday . The stock traded as high as $27.18 and last traded at $26.98. Approximately 759,896 shares changed hands during trading, a decline of 69% from the average daily volume of 2,424,742 shares. The stock had previously closed at $26.84.

Analyst Ratings Changes

Several research analysts have recently issued reports on BCE shares. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. BMO Capital Markets upped their price target on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Barclays lowered their price target on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, BCE has an average rating of “Hold” and an average target price of $45.00.

BCE Stock Down 0.6 %

The firm has a market capitalization of $24.45 billion, a price-to-earnings ratio of 382.93, a P/E/G ratio of 4.18 and a beta of 0.54. The stock has a fifty day moving average of $30.49 and a two-hundred day moving average of $32.72. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 11.00%. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is presently 4,228.57%.

Institutional Trading of BCE

A number of institutional investors have recently bought and sold shares of BCE. Hexagon Capital Partners LLC boosted its position in BCE by 121.2% during the third 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 last quarter. Brown Brothers Harriman & Co. bought a new position in shares of BCE during the 3rd quarter worth about $51,000. Brown Lisle Cummings Inc. boosted its position in shares of BCE by 60.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in shares of BCE during the 3rd quarter worth about $65,000. Institutional investors own 41.46% of the company’s stock.

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.