BCE (NYSE:BCE) Trading Down 0.1% – Here’s What Happened

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) fell 0.1% during mid-day trading on Wednesday . The company traded as low as $24.37 and last traded at $24.38. 386,302 shares were traded during trading, a decline of 88% from the average session volume of 3,128,393 shares. The stock had previously closed at $24.40.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Bank of America downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Barclays reiterated an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Finally, Morgan Stanley started coverage on shares of BCE in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.00.

BCE Stock Up 0.3 %

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 business has a 50 day simple moving average of $24.22 and a 200 day simple moving average of $29.89. The company has a market capitalization of $22.33 billion, a price-to-earnings ratio of 349.50, a PEG ratio of 3.94 and a beta of 0.57.

BCE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were given a $0.737 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a yield of 12.04%. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is currently 4,028.57%.

Hedge Funds Weigh In On BCE

Hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its position in BCE by 4.8% during the third quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider’s stock worth $656,421,000 after buying an additional 864,472 shares during the period. JPMorgan Chase & Co. increased its position in BCE by 25.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider’s stock valued at $127,282,000 after acquiring an additional 738,656 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in BCE by 48.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider’s stock worth $123,877,000 after acquiring an additional 1,166,800 shares during the period. Pathway Financial Advisers LLC grew its stake in shares of BCE by 3,355.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,852,025 shares of the utilities provider’s stock valued at $64,450,000 after purchasing an additional 1,798,427 shares during the last quarter. Finally, Lincluden Management Ltd. increased its holdings in shares of BCE by 17.3% in the fourth quarter. Lincluden Management Ltd. now owns 1,615,956 shares of the utilities provider’s stock valued at $37,457,000 after purchasing an additional 237,903 shares during the period. 41.46% of the stock is currently 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.