BCE (NYSE:BCE) Stock Price Down 1.7% – What’s Next?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) were down 1.7% on Friday . The company traded as low as $25.24 and last traded at $25.37. Approximately 1,696,216 shares were traded during trading, a decline of 31% from the average daily volume of 2,461,114 shares. The stock had previously closed at $25.81.

Analyst Ratings Changes

A number of equities research analysts have commented on BCE shares. Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. 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. Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a research 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. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BCE presently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Performance

The stock has a market cap of $23.29 billion, a PE ratio of 362.29, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54. 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 has a 50 day moving average price of $29.67 and a two-hundred day moving average price of $32.46.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.737 per share. 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 dividend yield of 11.55%. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio is currently 4,214.29%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC raised its position in shares of BCE by 121.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in BCE during the third quarter valued at $51,000. Bruce G. Allen Investments LLC boosted 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 buying an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of BCE in the 3rd quarter worth about $65,000. Finally, Fairscale Capital LLC bought a new stake in BCE during the second quarter worth about $76,000. Hedge funds and other institutional investors own 41.46% of the company’s stock.

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.