BCE (NYSE:BCE) Stock Price Down 1% – What’s Next?

BCE Inc. (NYSE:BCE) (TSE:BCE) fell 1% during mid-day trading on Wednesday . The company traded as low as $27.03 and last traded at $27.05. 563,921 shares traded hands during trading, a decline of 77% from the average session volume of 2,403,047 shares. The stock had previously closed at $27.31.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BCE. Barclays dropped their price objective on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a report on Tuesday, November 5th. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. BMO Capital Markets lifted their target price on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Price Performance

The company’s 50 day moving average is $30.81 and its 200-day moving average is $32.80. The stock has a market cap of $24.49 billion, a PE ratio of 386.43, a P/E/G ratio of 4.21 and a beta of 0.54. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 10.98%. This is a positive change from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE’s payout ratio is presently 4,228.57%.

Institutional Trading of BCE

Institutional investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its stake in shares of BCE by 3,480.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,044 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of 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 acquiring an additional 675 shares during the period. Brown Brothers Harriman & Co. bought a new position in BCE during the 3rd quarter valued at about $51,000. Brown Lisle Cummings Inc. lifted its holdings in BCE by 60.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Finally, Bruce G. Allen Investments LLC increased its position in 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. 41.46% of the stock is owned by institutional investors and hedge funds.

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.