BCE (NYSE:BCE) Shares Down 1.1% - What's Next?

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE's share price traded down 1.1% on Wednesday . The company traded as low as $23.29 and last traded at $23.31. 689,566 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,509,885 shares. The stock had previously closed at $23.58.

Analyst Ratings Changes

BCE has been the topic of several research reports. BMO Capital Markets upped their price objective on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a report on Thursday, September 19th. National Bank Financial downgraded shares of BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Canaccord Genuity Group reiterated a "hold" rating on shares of BCE in a research report on Tuesday, November 5th. Barclays decreased their price objective on BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Finally, Edward Jones downgraded shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $45.00.

BCE Stock Down 0.8 %

The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The stock's fifty day simple moving average is $29.12 and its two-hundred day simple moving average is $32.25. The stock has a market capitalization of $21.35 billion, a P/E ratio of 334.29, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.60%. 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 (DPR) is 4,214.29%.

Institutional Investors Weigh In On BCE

Several large investors have recently added to or reduced their stakes in BCE. &PARTNERS bought a new stake in shares of BCE during the second quarter worth about $298,000. Cypress Capital Group lifted its holdings in BCE by 21.8% during the 2nd quarter. Cypress Capital Group now owns 8,924 shares of the utilities provider's stock worth $289,000 after purchasing an additional 1,595 shares in the last quarter. K.J. Harrison & Partners Inc increased its stake in BCE by 133.1% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 157,825 shares of the utilities provider's stock worth $5,109,000 after acquiring an additional 90,128 shares during the last quarter. Tobam lifted its position in BCE by 64.8% during the second quarter. Tobam now owns 21,030 shares of the utilities provider's stock valued at $681,000 after purchasing an additional 8,266 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in BCE by 9.6% during the second quarter. Crossmark Global Holdings Inc. now owns 109,811 shares of the utilities provider's stock valued at $3,555,000 after purchasing an additional 9,609 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.