BCE (NYSE:BCE) Trading Down 2.4% – What’s Next?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) traded down 2.4% on Monday . The company traded as low as $22.58 and last traded at $22.61. 885,094 shares traded hands during trading, a decline of 65% from the average session volume of 2,553,575 shares. The stock had previously closed at $23.16.

Wall Street Analyst Weigh In

BCE has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Barclays dropped their target price on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Morgan Stanley started coverage on shares of BCE in a research note on Monday, December 16th. They set an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.00.

BCE Trading Up 0.3 %

The firm has a market capitalization of $20.89 billion, a price-to-earnings ratio of 327.14, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54. The business’s fifty day moving average is $28.12 and its 200 day moving average is $31.85. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 12.87%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is currently 4,214.29%.

Institutional Trading of BCE

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC lifted its position in BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after buying an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of BCE during the 3rd quarter worth approximately $51,000. Bruce G. Allen Investments LLC grew its stake in shares of BCE by 321.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after buying an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in BCE during the third quarter worth $65,000. Finally, Fairscale Capital LLC bought a new stake in BCE during the second quarter worth $76,000. 41.46% of the stock is currently 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.