BCE (NYSE:BCE) Stock Price Up 1.2% – What’s Next?

BCE Inc. (NYSE:BCE) (TSE:BCE) traded up 1.2% during mid-day trading on Thursday . The company traded as high as $24.01 and last traded at $23.98. 579,348 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,198,932 shares. The stock had previously closed at $23.70.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BCE. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Morgan Stanley assumed coverage on shares of BCE in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Barclays reaffirmed an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Finally, Bank of America cut BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.00.

BCE Stock Performance

The stock has a market capitalization of $21.79 billion, a P/E ratio of 341.21, a price-to-earnings-growth 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. The company has a 50-day moving average price of $24.44 and a two-hundred day moving average price of $30.17.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $0.737 dividend. The ex-dividend date was Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 12.34%. BCE’s payout ratio is 4,028.57%.

Institutional Trading of BCE

Several large investors have recently modified their holdings of BCE. Blue Trust Inc. lifted its position in shares of BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 1,285 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of BCE by 121.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 675 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of BCE by 67.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 799 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of BCE in the 3rd quarter valued at about $51,000. Finally, Bruce G. Allen Investments LLC increased its position in BCE by 321.0% in the 3rd 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. Institutional investors and hedge funds 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.