BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE's stock price shot up 1% during mid-day trading on Monday after the company announced a dividend. The company traded as high as $22.49 and last traded at $22.36. 745,768 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 3,614,825 shares. The stock had previously closed at $22.14.
The newly announced dividend which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.6965 per share. This represents a $2.79 annualized dividend and a yield of 11.81%. The ex-dividend date is Friday, March 14th. BCE's dividend payout ratio (DPR) is 2,350.00%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on BCE shares. Canaccord Genuity Group reiterated a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. Edward Jones cut BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Barclays reiterated an "underweight" rating on shares of BCE in a research note on Tuesday, January 21st. Canaccord Genuity Group cut BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Finally, Bank of America cut BCE from a "neutral" rating to an "underperform" rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, six have issued 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, BCE has an average rating of "Hold" and an average price target of $40.50.
Read Our Latest Stock Analysis on BCE
BCE Stock Performance
The business has a 50-day moving average of $23.76 and a 200 day moving average of $29.50. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market cap of $21.52 billion, a PE ratio of 196.59, a PEG ratio of 3.91 and a beta of 0.57.
BCE (NYSE:BCE - Get Free Report) TSE: BCE last issued its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. Equities research analysts anticipate that BCE Inc. will post 2 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of BCE. CWM LLC lifted its position in BCE by 12.9% during the third quarter. CWM LLC now owns 8,305 shares of the utilities provider's stock valued at $289,000 after purchasing an additional 947 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of BCE in the third quarter worth about $201,000. Creative Planning lifted its position in shares of BCE by 6.0% during the 3rd quarter. Creative Planning now owns 59,471 shares of the utilities provider's stock valued at $2,070,000 after buying an additional 3,372 shares in the last quarter. Probity Advisors Inc. grew its stake in shares of BCE by 6.8% during the 3rd quarter. Probity Advisors Inc. now owns 17,985 shares of the utilities provider's stock valued at $626,000 after acquiring an additional 1,148 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its holdings in BCE by 11.6% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 23,743 shares of the utilities provider's stock worth $826,000 after acquiring an additional 2,465 shares in the last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.
About BCE
(
Get Free Report)
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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