BCE (NYSE:BCE) Shares Up 1.6% – What’s Next?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price was up 1.6% on Thursday . The company traded as high as $23.61 and last traded at $23.64. Approximately 383,030 shares changed hands during trading, a decline of 89% from the average daily volume of 3,587,677 shares. The stock had previously closed at $23.26.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays reiterated an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Bank of America lowered BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Morgan Stanley started coverage on BCE in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered shares of BCE from a “neutral” rating to an “underweight” rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.50.

BCE Price Performance

The company has a 50 day moving average price of $23.63 and a 200-day moving average price of $29.39. The company has a market cap of $21.76 billion, a price-to-earnings ratio of 198.79, a P/E/G ratio of 3.91 and a beta of 0.57. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that BCE Inc. will post 2 EPS for the current fiscal year.

BCE Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $0.6965 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.79 dividend on an annualized basis and a dividend yield of 11.68%. BCE’s dividend payout ratio (DPR) is presently 2,350.00%.

Hedge Funds Weigh In On BCE

Hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its position in BCE by 623.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 9,398,336 shares of the utilities provider’s stock valued at $217,573,000 after purchasing an additional 8,100,000 shares during the period. Norges Bank acquired a new stake in shares of BCE during the fourth quarter worth $87,643,000. Bank of Nova Scotia raised its stake in BCE by 22.2% during the fourth quarter. Bank of Nova Scotia now owns 19,945,799 shares of the utilities provider’s stock worth $462,262,000 after buying an additional 3,624,953 shares during the last quarter. FIL Ltd lifted its holdings in BCE by 9.7% in the fourth quarter. FIL Ltd now owns 26,292,783 shares of the utilities provider’s stock valued at $609,465,000 after buying an additional 2,322,474 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in BCE by 95.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,586,953 shares of the utilities provider’s stock valued at $106,216,000 after acquiring an additional 2,240,473 shares during the last quarter. 41.46% of the stock is currently owned by 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.