BCE (NYSE:BCE) Trading 0.8% Higher – Here’s Why

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) shot up 0.8% during mid-day trading on Monday . The company traded as high as $24.11 and last traded at $23.73. 790,663 shares were traded during trading, a decline of 75% from the average session volume of 3,198,949 shares. The stock had previously closed at $23.53.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BCE. Barclays reissued an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Bank of America cut BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Canaccord Genuity Group cut BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley started coverage on BCE in a research report on Monday, December 16th. They set an “underweight” rating on the stock. Finally, Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, BCE presently has an average rating of “Hold” and an average target price of $45.00.

BCE Trading Down 0.7 %

The stock has a market cap of $21.64 billion, a P/E ratio of 338.89, a PEG ratio of 3.83 and a beta of 0.56. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The business’s 50 day simple moving average is $24.50 and its 200 day simple moving average is $30.21.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were paid a $0.737 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.43%. This is a boost from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is 4,028.57%.

Institutional Trading of BCE

A number of institutional investors have recently bought and sold shares of the business. Caldwell Sutter Capital Inc. grew its holdings in shares of BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock valued at $413,000 after buying an additional 445 shares during the period. First Affirmative Financial Network lifted its position in BCE by 6.1% during the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock worth $285,000 after buying an additional 472 shares in the last quarter. Prospera Financial Services Inc raised its holdings in shares of BCE by 6.8% in the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 478 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of BCE by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock valued at $1,006,000 after purchasing an additional 520 shares during the period. Finally, FMR LLC raised its holdings in shares of BCE by 6.8% in the 3rd quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 596 shares during the period. Institutional investors and hedge funds 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.