BCE (NYSE:BCE) Trading Up 0.1% - Here's What Happened

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE's stock price shot up 0.1% during trading on Monday . The stock traded as high as $24.17 and last traded at $23.85. 720,120 shares traded hands during trading, a decline of 71% from the average session volume of 2,454,904 shares. The stock had previously closed at $23.82.

Wall Street Analysts Forecast Growth

BCE has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on shares of BCE in a research note on Monday, December 16th. They set an "underweight" rating for the company. Canaccord Genuity Group reissued a "hold" rating on shares of BCE in a research report on Tuesday, November 5th. BMO Capital Markets boosted their price target on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research report on Thursday, September 19th. Edward Jones downgraded BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group cut 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 given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $45.00.

BCE Price Performance

The business has a fifty day moving average of $26.31 and a two-hundred day moving average of $31.20. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 342.14, a price-to-earnings-growth ratio of 4.04 and a beta of 0.56. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62.

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 $0.737 dividend. The ex-dividend date is Monday, December 16th. This is a positive change from BCE's previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a dividend yield of 12.31%. BCE's dividend payout ratio is presently 4,214.29%.

Institutional Trading of BCE

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AE Wealth Management LLC boosted its stake in BCE by 2.6% in the 2nd quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider's stock valued at $466,000 after purchasing an additional 367 shares during the period. Caldwell Sutter Capital Inc. boosted its position in shares of BCE by 3.9% in the third quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider's stock valued at $413,000 after acquiring an additional 445 shares during the period. First Affirmative Financial Network grew its stake in shares of BCE by 6.1% in the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider's stock valued at $285,000 after acquiring an additional 472 shares in the last quarter. Prospera Financial Services Inc grew its stake in shares of BCE by 6.8% in the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider's stock valued at $262,000 after acquiring an additional 478 shares in the last quarter. Finally, FMR LLC increased its position in BCE by 6.8% during the third quarter. FMR LLC now owns 9,307 shares of the utilities provider's stock worth $324,000 after acquiring an additional 596 shares during the period. Institutional investors 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.