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

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price dropped 0.9% during mid-day trading on Wednesday . The company traded as low as $23.01 and last traded at $23.18. Approximately 469,669 shares were traded during trading, a decline of 86% from the average daily volume of 3,350,179 shares. The stock had previously closed at $23.39.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. National Bank Financial downgraded 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 report on Tuesday, November 5th. Bank of America downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. Morgan Stanley began coverage on shares of BCE in a research report on Monday, December 16th. They issued an “underweight” rating for the company. Finally, Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.

BCE Price Performance

The company’s fifty day moving average price is $24.70 and its two-hundred day moving average price is $30.41. 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 company has a market cap of $21.46 billion, a price-to-earnings ratio of 336.07, a PEG ratio of 3.83 and a beta of 0.56.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $0.737 dividend. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, December 16th. This represents a $2.95 annualized dividend and a yield of 12.53%. BCE’s payout ratio is presently 4,028.57%.

Institutional Investors Weigh In On BCE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AE Wealth Management LLC grew its stake in shares of BCE by 2.6% in the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock valued at $466,000 after buying an additional 367 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of BCE by 3.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 76,469 shares of the utilities provider’s stock valued at $2,476,000 after acquiring an additional 2,700 shares during the period. Evergreen Capital Management LLC acquired a new position in shares of BCE during the 2nd quarter worth about $245,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of BCE by 185.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 127,546 shares of the utilities provider’s stock valued at $4,132,000 after purchasing an additional 82,803 shares during the period. Finally, APG Asset Management N.V. lifted its stake in BCE by 14.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,420,769 shares of the utilities provider’s stock valued at $42,927,000 after purchasing an additional 178,031 shares during the last quarter. 41.46% of the stock is owned by institutional investors.

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.