BCE (NYSE:BCE) Stock Price Down 0.9% – Here’s What Happened

by · The Markets Daily

BCE Inc. (NYSE:BCE – Get Free Report) (TSE:BCE) dropped 0.9% during mid-day trading on Thursday . The stock traded as low as $23.36 and last traded at $23.64. Approximately 2,334,861 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 3,366,279 shares. The stock had previously closed at $23.86.

Analysts Set New Price Targets

BCE has been the topic of several research analyst reports. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Barclays reduced their price target on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley initiated coverage on shares of BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Read Our Latest Stock Analysis on BCE

BCE Price Performance

The stock has a market capitalization of $21.57 billion, a PE ratio of 337.71, a P/E/G ratio of 4.04 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 stock’s fifty day moving average is $25.96 and its 200-day moving average is $31.09.

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 paid 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 annualized dividend and a dividend yield of 12.47%. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio is presently 4,214.29%.

Institutional Trading of BCE

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AE Wealth Management LLC increased its holdings in BCE by 2.6% in the 2nd 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 in the last quarter. Caldwell Sutter Capital Inc. lifted its stake in 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 in the last quarter. First Affirmative Financial Network boosted its holdings in BCE by 6.1% in 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 during the last quarter. Prospera Financial Services Inc increased its stake in BCE by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock worth $262,000 after buying an additional 478 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of BCE by 6.8% during the third quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock valued at $324,000 after acquiring an additional 596 shares during the last quarter. 41.46% of the stock is currently owned by hedge funds and other institutional investors.

About BCE

(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.

Read More