Short Interest in BCE Inc. (NYSE:BCE) Increases By 16.6%

BCE Inc. (NYSE:BCE) (TSE:BCE) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 52,480,000 shares, a growth of 16.6% from the October 31st total of 45,000,000 shares. Based on an average trading volume of 2,730,000 shares, the short-interest ratio is currently 19.2 days. Approximately 5.8% of the shares of the stock are short sold.

BCE Stock Up 0.0 %

Shares of NYSE BCE traded up $0.01 during trading on Friday, reaching $27.03. The company had a trading volume of 1,448,158 shares, compared to its average volume of 4,472,699. The business’s 50-day moving average is $31.13 and its 200 day moving average is $32.91. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The stock has a market cap of $24.66 billion, a PE ratio of 386.14, a P/E/G ratio of 4.20 and a beta of 0.59. BCE has a 12-month low of $26.45 and a 12-month high of $41.77.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.737 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 annualized dividend and a dividend yield of 10.91%. This is a boost from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is currently 4,214.29%.

Institutional Investors Weigh In On BCE

Several large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its holdings in shares of BCE by 3,480.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock worth $35,000 after buying an additional 1,044 shares during the last quarter. Hexagon Capital Partners LLC raised its position in BCE by 121.2% in the third 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. purchased a new position in shares of BCE during the 3rd quarter worth $51,000. Brown Lisle Cummings Inc. boosted its stake in shares of BCE by 60.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 600 shares during the last quarter. Finally, Bruce G. Allen Investments LLC grew its position in shares of BCE by 321.0% during 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 during the period. 41.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BCE. BMO Capital Markets raised their price target on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Edward Jones cut BCE from a “buy” rating to a “hold” rating 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 cut their price objective on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, Canaccord Genuity Group restated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

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.