BCE (NYSE:BCE) Trading Up 0.2% – What’s Next?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s stock price was up 0.2% during mid-day trading on Thursday . The company traded as high as $23.49 and last traded at $23.20. Approximately 456,520 shares changed hands during trading, a decline of 86% from the average daily volume of 3,293,218 shares. The stock had previously closed at $23.15.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports 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. Barclays reissued an “underweight” rating on shares of BCE in a research report on Tuesday. Morgan Stanley started coverage on shares of BCE in a report on Monday, December 16th. They set an “underweight” rating on the stock. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Bank of America downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.00.

BCE Price Performance

The company has a market cap of $21.27 billion, a P/E ratio of 332.77, a P/E/G ratio of 3.87 and a beta of 0.56. The company’s 50-day moving average price is $24.77 and its 200-day moving average price is $30.46. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $0.737 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a yield of 12.64%. This is a boost from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is currently 4,028.57%.

Hedge Funds Weigh In On BCE

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in BCE by 1,147.3% in the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,285 shares during the period. Hexagon Capital Partners LLC increased 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 buying an additional 675 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of BCE by 67.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 799 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of BCE during the 3rd quarter valued at approximately $51,000. Finally, Bruce G. Allen Investments LLC grew its holdings 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 valued at $58,000 after purchasing an additional 1,268 shares during the last quarter. 41.46% of the stock is owned by institutional investors.

About BCE

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.