BCE (NYSE:BCE) Stock Price Up 0.8% – What’s Next?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price traded up 0.8% on Thursday . The stock traded as high as $23.62 and last traded at $23.36. 451,717 shares traded hands during trading, a decline of 82% from the average session volume of 2,579,633 shares. The stock had previously closed at $23.18.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BCE shares. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Morgan Stanley began coverage on shares of BCE in a research note on Monday, December 16th. They set an “underweight” rating on the stock. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group cut BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Barclays reduced their price target on BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BCE currently has an average rating of “Hold” and an average price target of $45.00.

BCE Stock Up 2.4 %

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 capitalization of $21.73 billion, a price-to-earnings ratio of 340.29, a P/E/G ratio of 4.04 and a beta of 0.54. The business’s 50-day moving average is $26.66 and its 200-day moving average is $31.35.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a dividend yield of 12.38%. This is a positive change from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s payout ratio is 4,214.29%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BCE. Hexagon Capital Partners LLC grew its stake in BCE by 121.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 675 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of BCE in the third quarter valued at about $51,000. Bruce G. Allen Investments LLC increased its stake in shares of BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of BCE during the 3rd quarter worth about $65,000. Finally, Fairscale Capital LLC acquired a new position in shares of BCE during the 2nd quarter worth about $76,000. Institutional investors and hedge funds own 41.46% of the company’s stock.

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.