BCE (NYSE:BCE) Trading Up 1% – Time to Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares were up 1% during trading on Friday . The stock traded as high as $23.62 and last traded at $23.49. Approximately 754,242 shares changed hands during trading, a decline of 57% from the average daily volume of 1,741,261 shares. The stock had previously closed at $23.26.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BCE shares. Morgan Stanley initiated coverage on BCE in a research report on Monday, December 16th. They issued an “underweight” rating for the company. Barclays dropped their price target on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, BMO Capital Markets upped their price target on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.00.

BCE Stock Up 1.4 %

The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The business’s 50-day simple moving average is $26.66 and its 200-day simple moving average is $31.35. The company has a market capitalization of $21.51 billion, a PE ratio of 336.86, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54.

BCE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.737 per share. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a yield of 12.50%. BCE’s payout ratio is currently 4,214.29%.

Institutional Investors Weigh In On BCE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its holdings in BCE by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 203,291 shares of the utilities provider’s stock worth $6,581,000 after acquiring an additional 5,158 shares during the period. Natixis Advisors LLC increased its holdings in shares of BCE by 186.7% during the 2nd quarter. Natixis Advisors LLC now owns 320,088 shares of the utilities provider’s stock valued at $10,361,000 after purchasing an additional 208,425 shares in the last quarter. First National Trust Co lifted its stake in shares of BCE by 12.8% in the 2nd quarter. First National Trust Co now owns 12,976 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 1,475 shares during the period. Letko Brosseau & Associates Inc. boosted its holdings in BCE by 2.1% during the second quarter. Letko Brosseau & Associates Inc. now owns 3,514,662 shares of the utilities provider’s stock worth $113,812,000 after buying an additional 71,917 shares in the last quarter. Finally, Triasima Portfolio Management inc. acquired a new stake in BCE during the second quarter valued at $1,064,000. 41.46% of the stock is owned by institutional investors and hedge funds.

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.