BCE (NYSE:BCE) Trading Up 0.5% – Here’s What Happened

BCE Inc. (NYSE:BCE) (TSE:BCE) shares traded up 0.5% during trading on Thursday . The company traded as high as $23.58 and last traded at $23.52. 775,377 shares changed hands during trading, a decline of 69% from the average session volume of 2,528,682 shares. The stock had previously closed at $23.40.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BCE shares. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research note 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, 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. One equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.00.

BCE Price Performance

The company has a fifty day simple moving average of $28.92 and a 200-day simple moving average of $32.18. The company has a market cap of $21.21 billion, a P/E ratio of 332.14, a PEG 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.

BCE Increases Dividend

The business 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 represents a $2.95 annualized dividend and a dividend yield of 12.68%. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio is currently 4,214.29%.

Hedge Funds Weigh In On BCE

Institutional investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC lifted its stake in BCE by 121.2% during 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 in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of BCE in the 3rd quarter valued at approximately $51,000. Bruce G. Allen Investments LLC lifted its position in shares of BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in BCE in the 3rd quarter worth approximately $65,000. Finally, Fairscale Capital LLC purchased a new position in BCE during the 2nd quarter worth approximately $76,000. Hedge funds and other institutional investors 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.