BCE (NYSE:BCE) Trading Up 0.1% – Here’s What Happened

BCE Inc. (NYSE:BCE) (TSE:BCE) shot up 0.1% during mid-day trading on Tuesday . The stock traded as high as $24.44 and last traded at $24.09. 787,246 shares were traded during trading, a decline of 75% from the average session volume of 3,202,680 shares. The stock had previously closed at $24.06.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BCE shares. Bank of America cut shares of BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Morgan Stanley began coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Barclays reissued an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Three 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Stock Up 0.8 %

The firm has a market cap of $21.79 billion, a price-to-earnings ratio of 341.21, a PEG ratio of 3.83 and a beta of 0.56. The business’s 50-day moving average is $24.44 and its 200-day moving average is $30.17. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.737 per share. The ex-dividend date of this dividend was 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 12.34%. BCE’s dividend payout ratio is 4,028.57%.

Institutional Investors Weigh In On BCE

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its holdings in BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 790 shares during the last quarter. Blue Trust Inc. raised its stake in shares of BCE by 1,147.3% during the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after buying an additional 1,285 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in BCE by 121.2% in the third 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 BCE by 67.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 799 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of BCE during the 3rd quarter valued at $51,000. 41.46% of the stock is owned by institutional investors and hedge funds.

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.