BCE (NYSE:BCE) Stock Price Up 0.4% – What’s Next?

by · The Markets Daily

BCE Inc. (NYSE:BCE – Get Free Report) (TSE:BCE)’s stock price rose 0.4% during trading on Tuesday . The company traded as high as $22.98 and last traded at $22.94. Approximately 603,407 shares were traded during trading, a decline of 76% from the average daily volume of 2,559,903 shares. The stock had previously closed at $22.84.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. BMO Capital Markets upped their target price on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, September 19th. Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley assumed coverage on shares of BCE in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.00.

View Our Latest Analysis on BCE

BCE Stock Up 0.3 %

The firm has a market capitalization of $20.89 billion, a PE ratio of 327.14, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The business has a 50-day moving average price of $28.33 and a 200-day moving average price of $31.93.

BCE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.737 dividend. The ex-dividend date is Monday, December 16th. This is a boost from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a yield of 12.87%. BCE’s dividend payout ratio is currently 4,214.29%.

Institutional Investors Weigh In On BCE

A number of institutional investors have recently made changes to their positions in the stock. AE Wealth Management LLC increased its position in shares of BCE by 2.6% during the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock worth $466,000 after acquiring an additional 367 shares during the period. Caldwell Sutter Capital Inc. increased its holdings in BCE by 3.9% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock worth $413,000 after purchasing an additional 445 shares during the period. First Affirmative Financial Network raised its position in BCE by 6.1% in the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 472 shares in the last quarter. Prospera Financial Services Inc boosted its stake 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 buying an additional 478 shares during the period. Finally, FMR LLC grew its position in shares of BCE by 6.8% during the third quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock worth $324,000 after buying an additional 596 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Company Profile

(Get Free Report)

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.

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