BCE (NYSE:BCE) Stock Price Down 1.3% - Here's What Happened

Shares of BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE traded down 1.3% on Thursday . The stock traded as low as $25.57 and last traded at $25.64. 866,166 shares changed hands during trading, a decline of 65% from the average session volume of 2,448,438 shares. The stock had previously closed at $25.97.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Edward Jones cut shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. BMO Capital Markets boosted their price target on shares of BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research note on Thursday, September 19th. Canaccord Genuity Group downgraded BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Barclays lowered their price objective 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. Finally, National Bank Financial downgraded BCE from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $45.00.

BCE Price Performance

The stock has a fifty day moving average of $29.83 and a 200-day moving average of $32.51. 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 stock has a market capitalization of $23.56 billion, a price-to-earnings ratio of 366.29, a P/E/G ratio of 4.17 and a beta of 0.54.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 11.42%. This is an increase from BCE's previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE's dividend payout ratio is 4,214.29%.

Hedge Funds Weigh In On BCE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC boosted its holdings 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 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 approximately $51,000. Brown Lisle Cummings Inc. raised its stake in shares of BCE by 60.0% during the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider's stock worth $52,000 after purchasing an additional 600 shares during the last quarter. Bruce G. Allen Investments LLC raised 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 during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of BCE during the third quarter worth approximately $65,000. 41.46% of the stock is owned by institutional investors and hedge funds.

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.