BCE Inc. (NYSE:BCE) Short Interest Down 7.2% in November

BCE Inc. (NYSE:BCE) (TSE:BCE) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 48,690,000 shares, a decrease of 7.2% from the November 15th total of 52,480,000 shares. Approximately 5.3% of the shares of the stock are sold short. Based on an average trading volume of 3,030,000 shares, the days-to-cover ratio is presently 16.1 days.

BCE Trading Down 3.7 %

Shares of BCE stock traded down $0.92 during mid-day trading on Monday, hitting $23.88. The company’s stock had a trading volume of 7,752,325 shares, compared to its average volume of 2,501,203. The company has a market cap of $21.78 billion, a PE ratio of 348.00, a P/E/G ratio of 4.04 and a beta of 0.54. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The company’s fifty day simple moving average is $29.51 and its 200-day simple moving average is $32.39. BCE has a 52 week low of $23.82 and a 52 week high of $41.77.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.737 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 annualized dividend and a dividend yield of 12.35%. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is currently 4,214.29%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley assumed coverage on BCE in a research report on Monday. They issued an “underweight” rating for the company. BMO Capital Markets boosted their price target on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $45.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC raised its holdings 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 valued at $43,000 after purchasing an additional 675 shares during the period. Brown Brothers Harriman & Co. acquired a new position in BCE during the 3rd quarter worth approximately $51,000. Bruce G. Allen Investments LLC boosted its holdings 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 acquiring an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in BCE in the third quarter valued at approximately $65,000. Finally, Fairscale Capital LLC bought a new stake in shares of BCE during the second quarter valued at approximately $76,000. 41.46% of the stock is 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.