BCE (NYSE:BCE) Stock Price Up 0.7% - What's Next?

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE was up 0.7% during mid-day trading on Wednesday . The company traded as high as $22.98 and last traded at $23.04. Approximately 323,540 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 3,623,172 shares. The stock had previously closed at $22.88.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BCE shares. Edward Jones cut BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Canaccord Genuity Group cut BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Morgan Stanley initiated coverage on BCE in a research report on Monday, December 16th. They set an "underweight" rating for the company. JPMorgan Chase & Co. cut BCE from a "neutral" rating to an "underweight" rating in a research report on Friday, February 7th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating on shares of BCE in a research report on Tuesday, November 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, BCE presently has a consensus rating of "Hold" and an average price target of $40.50.

BCE Stock Up 1.0 %

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 fifty day moving average price of $23.63 and a 200 day moving average price of $29.39. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 198.79, a PEG ratio of 3.91 and a beta of 0.57.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. As a group, sell-side analysts expect that BCE Inc. will post 2 EPS for the current fiscal year.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.6965 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.79 annualized dividend and a dividend yield of 11.68%. BCE's dividend payout ratio is currently 2,350.00%.

Institutional Trading of BCE

Several hedge funds have recently modified their holdings of the business. Caldwell Sutter Capital Inc. increased its stake in BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider's stock valued at $413,000 after purchasing an additional 445 shares in the last quarter. Prospera Financial Services Inc increased its stake in BCE by 6.8% in the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider's stock valued at $262,000 after purchasing an additional 478 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in BCE by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider's stock valued at $1,006,000 after purchasing an additional 520 shares in the last quarter. FMR LLC increased its stake in BCE by 6.8% in the 3rd quarter. FMR LLC now owns 9,307 shares of the utilities provider's stock valued at $324,000 after purchasing an additional 596 shares in the last quarter. Finally, Bridgewater Associates LP increased its stake in BCE by 4.7% in the 4th quarter. Bridgewater Associates LP now owns 13,655 shares of the utilities provider's stock valued at $316,000 after purchasing an additional 614 shares in the last quarter. 41.46% of the stock is 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.