BCE (NYSE:BCE) Trading 0.8% Higher – Here’s Why

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) rose 0.8% during mid-day trading on Monday . The company traded as high as $24.11 and last traded at $23.73. Approximately 790,663 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 3,198,949 shares. The stock had previously closed at $23.53.

Wall Street Analysts Forecast Growth

BCE has been the topic of a number of analyst reports. Bank of America lowered BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. Barclays reissued an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.00.

BCE Stock Down 0.7 %

The business has a 50 day moving average of $24.50 and a 200-day moving average of $30.21. The stock has a market cap of $21.64 billion, a PE ratio of 338.89, a P/E/G ratio of 3.83 and a beta of 0.56. 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were paid a $0.737 dividend. The ex-dividend date was Monday, December 16th. This is an increase from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.43%. BCE’s payout ratio is 4,028.57%.

Institutional Trading of BCE

A number of institutional investors have recently modified their holdings of BCE. Blue Trust Inc. boosted its stake in shares of BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,285 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after buying an additional 675 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of BCE by 67.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock valued at $46,000 after buying an additional 799 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of BCE in the third quarter valued at approximately $51,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of BCE by 321.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after buying an additional 1,268 shares in the last quarter. 41.46% of the stock is currently owned by hedge funds and other institutional investors.

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.