BCE (NYSE:BCE) Trading 1.3% Higher – Time to Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares were up 1.3% on Friday . The company traded as high as $23.24 and last traded at $23.11. Approximately 766,302 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 3,346,638 shares. The stock had previously closed at $22.82.

Wall Street Analyst Weigh In

A number of research firms have commented on BCE. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Bank of America downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Barclays decreased their price target on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Morgan Stanley started coverage on shares of BCE in a research report on Monday, December 16th. They set an “underweight” rating for the company. Finally, Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.00.

BCE Price Performance

The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The company’s fifty day moving average price is $25.03 and its 200 day moving average price is $30.64. The company has a market capitalization of $21.12 billion, a P/E ratio of 330.79, a PEG ratio of 3.76 and a beta of 0.56.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 12.73%. The ex-dividend date was Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is 4,028.57%.

Institutional Trading of BCE

Large investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its position in BCE by 6.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 27,614 shares of the utilities provider’s stock worth $894,000 after purchasing an additional 1,779 shares during the period. AE Wealth Management LLC lifted its holdings in shares of BCE by 2.6% during the 2nd quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock worth $466,000 after acquiring an additional 367 shares during the period. Legacy Financial Advisors Inc. acquired a new stake in shares of BCE during the 2nd quarter worth approximately $232,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in BCE by 0.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 222,092 shares of the utilities provider’s stock valued at $7,189,000 after acquiring an additional 685 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its position in BCE by 28.0% during the second quarter. Mount Yale Investment Advisors LLC now owns 20,361 shares of the utilities provider’s stock valued at $659,000 after purchasing an additional 4,456 shares in the last quarter. 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.