BCE (NYSE:BCE) Shares Down 4.6% - Here's Why

Shares of BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE fell 4.6% during trading on Tuesday . The stock traded as low as $22.02 and last traded at $22.14. 1,233,019 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 3,020,947 shares. The stock had previously closed at $23.21.

Wall Street Analyst Weigh In

BCE has been the topic of a number of recent analyst reports. Edward Jones lowered shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Canaccord Genuity Group restated a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. Morgan Stanley assumed coverage on BCE in a research report on Monday, December 16th. They set an "underweight" rating for the company. BMO Capital Markets boosted their price objective on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research report on Thursday, September 19th. Finally, Bank of America lowered BCE from a "neutral" rating to an "underperform" rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BCE has a consensus rating of "Hold" and a consensus price target of $45.00.

BCE Stock Up 0.3 %

The stock has a 50-day moving average of $25.24 and a 200-day moving average of $30.75. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The company has a market cap of $20.80 billion, a PE ratio of 325.79, a P/E/G ratio of 3.76 and a beta of 0.56.

BCE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.93%. BCE's dividend payout ratio is presently 4,028.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its stake in 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 purchasing an additional 675 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in BCE in the 3rd quarter worth approximately $51,000. Bruce G. Allen Investments LLC boosted its stake in BCE by 321.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock worth $58,000 after buying an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in BCE in the third quarter worth approximately $65,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in BCE by 67.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 799 shares during the last quarter. 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.

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