BCE Inc. (NYSE:BCE – Get Free Report) (TSE:BCE)’s share price traded down 0.1% on Thursday . The stock traded as low as $22.49 and last traded at $22.70. 932,533 shares were traded during mid-day trading, a decline of 71% from the average session volume of 3,261,381 shares. The stock had previously closed at $22.73.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Bank of America cut BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday. National Bank Financial downgraded BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Finally, Barclays decreased their target price on BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued 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 $45.00.
BCE Stock Performance
BCE Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $0.737 dividend. This is a positive change from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 12.90%. The ex-dividend date was Monday, December 16th. BCE’s payout ratio is currently 4,028.57%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its stake in shares of BCE by 121.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 675 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in BCE by 67.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 799 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in BCE during the 3rd quarter worth approximately $51,000. Bruce G. Allen Investments LLC increased its stake in BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in BCE during the 3rd quarter valued at approximately $65,000. 41.46% of the stock is currently owned by hedge funds and other institutional investors.
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.
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