BCE (NYSE:BCE) Stock Price Down 1.7% - Here's Why

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE shares were down 1.7% during mid-day trading on Friday . The stock traded as low as $25.24 and last traded at $25.37. Approximately 1,696,216 shares changed hands during trading, a decline of 31% from the average daily volume of 2,461,114 shares. The stock had previously closed at $25.81.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BCE. Canaccord Genuity Group downgraded BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Canaccord Genuity Group reissued a "hold" rating on shares of BCE in a research report on Tuesday, November 5th. BMO Capital Markets raised their target price on shares of BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a research note on Thursday, September 19th. Barclays cut their target price on shares of 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 equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $45.00.

BCE Stock Down 1.1 %

The stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 362.29, a P/E/G ratio of 4.04 and a beta of 0.54. 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 firm's fifty day simple moving average is $29.67 and its 200 day simple moving average is $32.46.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.737 per share. The ex-dividend date is Monday, December 16th. This is an increase from BCE's previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a dividend yield of 11.55%. BCE's dividend payout ratio (DPR) is presently 4,214.29%.

Institutional Trading of BCE

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC raised its stake in BCE by 138.5% in the 2nd quarter. CWM LLC now owns 7,358 shares of the utilities provider's stock valued at $238,000 after acquiring an additional 4,273 shares during the period. Dynamic Advisor Solutions LLC acquired a new stake in shares of BCE during the second quarter worth $231,000. ORG Partners LLC acquired a new position in BCE in the second quarter valued at $147,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of BCE by 1.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 103,149 shares of the utilities provider's stock valued at $3,340,000 after purchasing an additional 1,448 shares in the last quarter. Finally, CFM Wealth Partners LLC increased its stake in shares of BCE by 22.5% in the 2nd quarter. CFM Wealth Partners LLC now owns 7,436 shares of the utilities provider's stock valued at $241,000 after acquiring an additional 1,364 shares in the last quarter. 41.46% of the stock is currently 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.

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