BCE (NYSE:BCE) Shares Down 0.9% – What’s Next?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price fell 0.9% during trading on Thursday . The stock traded as low as $23.36 and last traded at $23.64. 2,334,861 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 3,366,279 shares. The stock had previously closed at $23.86.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley initiated coverage on shares of BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays reduced their price target on BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, BMO Capital Markets boosted 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.00.

BCE Stock Performance

The firm has a market cap of $20.94 billion, a PE ratio of 327.86, a P/E/G ratio of 4.04 and a beta of 0.56. The firm has a 50-day moving average price of $25.61 and a two-hundred day moving average price of $30.97. 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.737 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a yield of 12.85%. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is presently 4,214.29%.

Institutional Investors Weigh In On BCE

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its position in BCE by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock worth $1,006,000 after acquiring an additional 520 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of BCE by 25.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider’s stock worth $127,282,000 after purchasing an additional 738,656 shares during the last quarter. DGS Capital Management LLC grew its position in shares of BCE by 55.9% in the third quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 4,605 shares in the last quarter. Logan Capital Management Inc. increased its holdings in shares of BCE by 4.5% in the third quarter. Logan Capital Management Inc. now owns 103,643 shares of the utilities provider’s stock valued at $3,607,000 after purchasing an additional 4,438 shares during the last quarter. Finally, Old North State Trust LLC boosted its stake in BCE by 25.2% during the third quarter. Old North State Trust LLC now owns 7,786 shares of the utilities provider’s stock worth $271,000 after buying an additional 1,566 shares during the last quarter. Hedge funds and other institutional investors own 41.46% of the company’s stock.

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.