BCE (NYSE:BCE) Trading Up 0.5% - Here's Why

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE shot up 0.5% during trading on Thursday . The company traded as high as $23.58 and last traded at $23.52. 775,377 shares were traded during mid-day trading, a decline of 69% from the average session volume of 2,528,682 shares. The stock had previously closed at $23.40.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BCE shares. Canaccord Genuity Group cut shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Barclays lowered their target price on BCE from $34.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Morgan Stanley initiated coverage on BCE in a research report on Monday. They issued an "underweight" rating on the stock. National Bank Financial cut BCE from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th. Finally, BMO Capital Markets upped their target price on shares of BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, BCE presently has a consensus rating of "Hold" and an average price target of $45.00.

BCE Stock Down 1.2 %

The firm has a fifty day simple moving average of $28.92 and a 200 day simple moving average of $32.18. 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 company has a market cap of $21.08 billion, a PE ratio of 330.14, a PEG ratio of 4.04 and a beta of 0.54.

BCE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 12.76%. This is an increase from BCE's previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE's payout ratio is presently 4,214.29%.

Hedge Funds Weigh In On BCE

A number of large investors have recently bought and sold shares of BCE. DGS Capital Management LLC raised its holdings in shares of BCE by 55.9% in the 3rd quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider's stock worth $447,000 after purchasing an additional 4,605 shares during the period. Logan Capital Management Inc. increased its position in BCE by 4.5% during the 3rd quarter. Logan Capital Management Inc. now owns 103,643 shares of the utilities provider's stock worth $3,607,000 after purchasing an additional 4,438 shares in the last quarter. Old North State Trust LLC raised its holdings in BCE by 25.2% in the third quarter. Old North State Trust LLC now owns 7,786 shares of the utilities provider's stock valued at $271,000 after buying an additional 1,566 shares during the period. Tidal Investments LLC lifted its position in BCE by 138.1% during the third quarter. Tidal Investments LLC now owns 14,884 shares of the utilities provider's stock valued at $518,000 after buying an additional 8,633 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in BCE during the third quarter valued at approximately $137,000. Hedge funds and other 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.