BCE (NYSE:BCE) Trading Up 1.6% – Here’s Why

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) were up 1.6% during mid-day trading on Monday . The company traded as high as $27.22 and last traded at $27.21. Approximately 1,286,041 shares were traded during trading, a decline of 47% from the average daily volume of 2,429,135 shares. The stock had previously closed at $26.78.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BCE shares. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. BMO Capital Markets increased their price target on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group restated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, BCE currently has an average rating of “Hold” and an average price target of $45.00.

BCE Stock Performance

The firm has a market capitalization of $24.15 billion, a P/E ratio of 378.14, a price-to-earnings-growth ratio of 4.17 and a beta of 0.54. The company has a 50-day moving average of $30.17 and a 200-day moving average of $32.60. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 11.14%. 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 (DPR) is 4,214.29%.

Institutional Trading of BCE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DGS Capital Management LLC lifted its position in shares of BCE by 55.9% in the 3rd quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 4,605 shares during the period. Logan Capital Management Inc. raised its stake in BCE by 4.5% during the third quarter. Logan Capital Management Inc. now owns 103,643 shares of the utilities provider’s stock worth $3,607,000 after buying an additional 4,438 shares during the last quarter. Old North State Trust LLC lifted its holdings in BCE by 25.2% in the third quarter. Old North State Trust LLC now owns 7,786 shares of the utilities provider’s stock valued at $271,000 after buying an additional 1,566 shares during the period. Tidal Investments LLC boosted its position in BCE by 138.1% during the third quarter. Tidal Investments LLC now owns 14,884 shares of the utilities provider’s stock valued at $518,000 after acquiring an additional 8,633 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in BCE during the third quarter valued at $137,000. 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.