BCE (NYSE:BCE) Shares Up 1% - What's Next?

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE's stock price rose 1% on Friday . The stock traded as high as $23.62 and last traded at $23.49. Approximately 754,242 shares were traded during trading, a decline of 57% from the average daily volume of 1,741,261 shares. The stock had previously closed at $23.26.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Canaccord Genuity Group downgraded shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. National Bank Financial lowered BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Canaccord Genuity Group reissued a "hold" rating on shares of BCE in a report on Tuesday, November 5th. BMO Capital Markets raised their price target on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research note on Thursday, September 19th. Finally, Morgan Stanley began coverage on BCE in a research note on Monday, December 16th. They issued an "underweight" rating for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BCE currently has an average rating of "Hold" and a consensus target price of $45.00.

BCE Stock Up 2.4 %

The business has a 50-day simple moving average of $26.66 and a two-hundred day simple moving average of $31.35. The company has a market capitalization of $21.73 billion, a price-to-earnings ratio of 340.29, a PEG ratio of 4.04 and a beta of 0.54. 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.737 per share. The ex-dividend date is Monday, December 16th. This is an increase from BCE's previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a dividend yield of 12.38%. BCE's dividend payout ratio (DPR) is currently 4,214.29%.

Institutional Trading of BCE

Several hedge funds and other institutional investors have recently made changes to their positions in BCE. Commonwealth Equity Services LLC boosted its holdings in BCE by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 203,291 shares of the utilities provider's stock valued at $6,581,000 after purchasing an additional 5,158 shares in the last quarter. Natixis Advisors LLC grew its holdings in BCE by 186.7% during the second quarter. Natixis Advisors LLC now owns 320,088 shares of the utilities provider's stock worth $10,361,000 after acquiring an additional 208,425 shares during the period. First National Trust Co raised its position in BCE by 12.8% in the second quarter. First National Trust Co now owns 12,976 shares of the utilities provider's stock worth $420,000 after acquiring an additional 1,475 shares in the last quarter. Letko Brosseau & Associates Inc. raised its position in BCE by 2.1% in the second quarter. Letko Brosseau & Associates Inc. now owns 3,514,662 shares of the utilities provider's stock worth $113,812,000 after acquiring an additional 71,917 shares in the last quarter. Finally, Triasima Portfolio Management inc. acquired a new stake in BCE in the second quarter valued at $1,064,000. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Company Profile

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.