BCE (NYSE:BCE) Stock Price Up 0.3% - Here's Why

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE's share price was up 0.3% during mid-day trading on Tuesday . The stock traded as high as $24.18 and last traded at $24.01. Approximately 668,994 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 2,750,248 shares. The stock had previously closed at $23.94.

Analyst Ratings Changes

Several research analysts have recently issued reports on BCE shares. Canaccord Genuity Group downgraded BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Morgan Stanley started coverage on shares of BCE in a research report on Monday, December 16th. They set an "underweight" rating for the company. BMO Capital Markets increased their price target on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a report on Thursday, September 19th. Canaccord Genuity Group restated a "hold" rating on shares of BCE in a report on Tuesday, November 5th. Finally, Edward Jones cut BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have given 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 stock has a consensus rating of "Hold" and a consensus target price of $45.00.

BCE Trading Down 0.1 %

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 has a 50 day simple moving average of $26.31 and a two-hundred day simple moving average of $31.20. The firm has a market capitalization of $21.81 billion, a P/E ratio of 341.57, a PEG ratio of 4.04 and a beta of 0.56.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.737 per share. The ex-dividend date is Monday, December 16th. This is a boost from BCE's previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 12.33%. BCE's dividend payout ratio (DPR) is 4,214.29%.

Institutional Investors Weigh In On BCE

Several large investors have recently made changes to their positions in the business. AE Wealth Management LLC increased its position 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 valued at $466,000 after purchasing an additional 367 shares during the last quarter. Caldwell Sutter Capital Inc. increased its holdings in BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider's stock worth $413,000 after acquiring an additional 445 shares during the last quarter. First Affirmative Financial Network increased its holdings in BCE by 6.1% in the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider's stock worth $285,000 after acquiring an additional 472 shares during the last quarter. Prospera Financial Services Inc increased its holdings in BCE by 6.8% in the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider's stock worth $262,000 after acquiring an additional 478 shares during the last quarter. Finally, FMR LLC increased its holdings in BCE by 6.8% in the 3rd 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 last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.

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.