BCE (NYSE:BCE) Stock Price Down 0.6% – Here’s What Happened

BCE Inc. (NYSE:BCE) (TSE:BCE) was down 0.6% during mid-day trading on Monday . The company traded as low as $23.01 and last traded at $23.65. Approximately 838,337 shares changed hands during trading, a decline of 74% from the average daily volume of 3,174,682 shares. The stock had previously closed at $23.79.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BCE shares. Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Bank of America cut BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Morgan Stanley initiated coverage on BCE in a report on Monday, December 16th. They issued an “underweight” rating for the company. Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Barclays restated an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, BCE currently has an average rating of “Hold” and an average target price of $45.00.

BCE Trading Up 1.0 %

The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The firm has a market cap of $21.91 billion, a P/E ratio of 343.17, a P/E/G ratio of 3.94 and a beta of 0.57. The stock has a 50 day simple moving average of $24.32 and a 200-day simple moving average of $30.02.

BCE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were given a dividend of $0.737 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.95 annualized dividend and a yield of 12.27%. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is 4,028.57%.

Hedge Funds Weigh In On BCE

Institutional investors and hedge funds have recently made changes to their positions in the business. Caldwell Sutter Capital Inc. raised its position in shares of BCE by 3.9% in the third quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock worth $413,000 after acquiring an additional 445 shares during the period. First Affirmative Financial Network grew its holdings in BCE by 6.1% in the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 472 shares during the period. Prospera Financial Services Inc raised its stake in shares of BCE by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock worth $262,000 after buying an additional 478 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of BCE by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock valued at $1,006,000 after buying an additional 520 shares in the last quarter. Finally, FMR LLC grew its stake in BCE by 6.8% in the 3rd quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock valued at $324,000 after acquiring an additional 596 shares during the period. 41.46% of the stock is owned by hedge funds and other 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.