BCE Inc. (NYSE:BCE – Get Rating) (TSE:BCE) reached a new 52-week low during trading on Wednesday . The company traded as low as $46.37 and last traded at $46.52, with a volume of 25997 shares traded. The stock had previously closed at $47.46.
Analysts Set New Price Targets
A number of research firms recently issued reports on BCE. Canaccord Genuity Group decreased their price objective on BCE from C$70.00 to C$66.00 in a report on Friday, July 22nd. Barclays raised their price target on BCE from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, August 5th. Finally, Scotiabank raised their price target on BCE from C$68.50 to C$69.00 in a research note on Tuesday, September 6th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.10.
BCE Price Performance
The stock has a market capitalization of $42.45 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 4.10 and a beta of 0.49. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.59 and a current ratio of 0.65. The company has a fifty day simple moving average of $49.36 and a two-hundred day simple moving average of $52.13.
BCE Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Thursday, September 15th will be paid a dividend of $0.719 per share. This is an increase from BCE’s previous quarterly dividend of $0.72. This represents a $2.88 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend is Wednesday, September 14th. BCE’s dividend payout ratio is 114.06%.
Institutional Trading of BCE
Several institutional investors and hedge funds have recently modified their holdings of BCE. Capital Research Global Investors grew its holdings in BCE by 2.2% during the fourth quarter. Capital Research Global Investors now owns 30,063,234 shares of the utilities provider’s stock valued at $1,564,063,000 after purchasing an additional 651,805 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of BCE by 25.8% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,826,400 shares of the utilities provider’s stock worth $825,308,000 after buying an additional 3,450,800 shares in the last quarter. Bank of Nova Scotia raised its position in BCE by 47.9% during the second quarter. Bank of Nova Scotia now owns 13,889,035 shares of the utilities provider’s stock valued at $682,737,000 after purchasing an additional 4,501,302 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of BCE during the first quarter valued at about $12,960,000. Finally, Vanguard Group Inc. grew its stake in shares of BCE by 4.3% during the first quarter. Vanguard Group Inc. now owns 12,312,482 shares of the utilities provider’s stock valued at $682,849,000 after buying an additional 504,219 shares during the last quarter. 43.83% of the stock is owned by hedge funds and other institutional investors.
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communication products and services, as well as consumer electronics products.
- Get a free copy of the StockNews.com research report on BCE (BCE)
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