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

BCE Inc. (NYSE:BCE) (TSE:BCE)’s stock price dropped 0.9% during mid-day trading on Wednesday . The stock 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.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Barclays reiterated an “underweight” rating on shares of BCE in a research note on Tuesday. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.00.

BCE Price Performance

The firm’s 50-day moving average is $24.85 and its 200-day moving average is $30.51. The company has a market capitalization of $21.15 billion, a PE ratio of 331.33, a price-to-earnings-growth ratio of 3.83 and a beta of 0.56. The company has a quick ratio of 0.60, a current ratio of 0.62 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. Shareholders of record on Monday, December 16th were given a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a yield of 12.72%. This is a positive change from BCE’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, December 16th. BCE’s dividend payout ratio is presently 4,028.57%.

Institutional Trading of BCE

Institutional investors have recently modified their holdings of the company. Pathway Financial Advisers LLC grew its position in shares of BCE by 3,355.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,852,025 shares of the utilities provider’s stock worth $64,450,000 after buying an additional 1,798,427 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of BCE by 48.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider’s stock worth $123,877,000 after acquiring an additional 1,166,800 shares during the period. Toronto Dominion Bank boosted its holdings in shares of BCE by 12.0% in the second quarter. Toronto Dominion Bank now owns 8,450,810 shares of the utilities provider’s stock worth $273,553,000 after buying an additional 905,857 shares during the last quarter. National Bank of Canada FI raised its holdings in BCE by 4.8% in the 3rd quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider’s stock worth $656,421,000 after purchasing an additional 864,472 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of BCE during the 4th quarter valued at approximately $17,271,000. 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.