BCE Inc. Short Interest Declines by 7.2% in November

BCE Inc. (NYSE:BCE) experienced a notable reduction in short interest during November. By November 30th, the total short interest had dropped to 48,690,000 shares, which represents a 7.2% decrease from the 52,480,000 shares recorded on November 15th. This decline means that about 5.3% of the shares of BCE are currently sold short. Given the average daily trading volume of 3,030,000 shares, the short-interest ratio is now at 16.1 days, indicating how long it would take to cover all short positions.

BCE Stock Performance

On a day in early December, BCE shares traded down by 3.7%, falling by $0.92 to reach $23.88. The trading volume for the day was considerably high at 7,752,325 shares, surpassing the average volume of 2,501,203. BCE has a market capitalization of $21.78 billion and reports a P/E ratio of 348.00, while its P/E/G ratio stands at 4.04. The company has a beta value of 0.54, indicating lower volatility compared to the market. BCE's debt-to-equity ratio is reported at 2.26, with liquidity ratios showing a quick ratio of 0.60 and a current ratio of 0.62. Over the past year, BCE has seen a low of $23.82 and a high of $41.77.

Dividend Increase

Recently, BCE announced an increase in its quarterly dividend. The new dividend payment, amounting to $0.737 per share, will be distributed on January 15th to shareholders of record as of December 16th. The ex-dividend date for this payment is also set for December 16th. This adjustment brings BCE's annual dividend to $2.95, representing a dividend yield of 12.35%. Notably, this is an increase from BCE's previous quarterly dividend of $0.73. The company currently shows a payout ratio of 4,214.29%.

Analyst Ratings and Price Targets

Various analysts recently assessed BCE's stock. On November 5th, Edward Jones downgraded BCE from a "buy" to a "hold" rating. Morgan Stanley initiated coverage, assigning BCE an "underweight" rating. BMO Capital Markets raised its price target for BCE from $48.00 to $51.00 and labeled it as a "market perform" in a report released on September 19th. Canaccord Genuity voiced its views on BCE as well, reiterating a "hold" rating while also shifting from a "buy" to a "hold" rating on the same day as Edward Jones’s downgrade. Current consensus among analysts indicates one sell rating, nine hold ratings, one buy, and one strong buy rating. MarketBeat calculates an average rating of "Hold" with a consensus price target of $45.00.

Institutional Transactions

Recent activities among institutional investors and hedge funds reflect changes in ownership of BCE shares. Hexagon Capital Partners LLC increased its holdings in BCE by 121.2% during the third quarter, acquiring an additional 675 shares. Meanwhile, Brown Brothers Harriman & Co. initiated a new position in BCE valued around $51,000. Likewise, Bruce G. Allen Investments LLC increased its stakes by 321.0%, now possessing 1,663 shares worth approximately $58,000 after adding 1,268 shares. Other institutions also acquired new stakes, showcasing a growing interest in BCE, with institutional investors owning around 41.46% of the company’s stock.

About BCE

BCE Inc. is a leading communications company that offers a wide array of services. They provide wireless, wireline, Internet, and television services to a diverse group of customers, including residential, business, and wholesale clients in Canada. The company operates mainly through two segments: Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment includes wireless products, mobile data, voice plans, wireline products, internet access, and satellite TV, catering to various customers ranging from individuals to large enterprises.

BCE, short, interest