BCE (NYSE:BCE) Shares Up 1.5% - Here's What Happened

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE's stock price traded up 1.5% on Monday . The company traded as high as $23.24 and last traded at $23.16. 2,840,402 shares were traded during mid-day trading, a decline of 24% from the average session volume of 3,751,226 shares. The stock had previously closed at $22.82.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BCE shares. Bank of America downgraded BCE from a "neutral" rating to an "underperform" rating in a report on Tuesday, January 14th. Edward Jones downgraded shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Canaccord Genuity Group cut shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Barclays reissued an "underweight" rating on shares of BCE in a report on Tuesday. Finally, National Bank Financial lowered shares of BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $45.00.

BCE Price Performance

The company has a market cap of $21.16 billion, a PE ratio of 331.50, a price-to-earnings-growth ratio of 3.83 and a beta of 0.56. The stock has a fifty day moving average price of $24.85 and a 200-day moving average price of $30.51. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

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BCE Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from BCE's previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a yield of 12.71%. BCE's dividend payout ratio (DPR) is presently 4,028.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCE. Benjamin F. Edwards & Company Inc. increased its stake in shares of BCE by 6.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 27,614 shares of the utilities provider's stock worth $894,000 after acquiring an additional 1,779 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of BCE by 2.6% during the 2nd quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider's stock worth $466,000 after purchasing an additional 367 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of BCE by 28.0% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 20,361 shares of the utilities provider's stock valued at $659,000 after buying an additional 4,456 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of BCE during the 2nd quarter valued at about $428,000. Finally, Public Sector Pension Investment Board increased its holdings in BCE by 3.7% in the second quarter. Public Sector Pension Investment Board now owns 76,469 shares of the utilities provider's stock worth $2,476,000 after buying an additional 2,700 shares during the last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.

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.