BCE (NYSE:BCE) Trading Up 0.2% – Should You Buy?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) traded up 0.2% during trading on Thursday . The company traded as high as $23.49 and last traded at $23.20. 456,520 shares were traded during trading, a decline of 86% from the average session volume of 3,293,218 shares. The stock had previously closed at $23.15.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Morgan Stanley started coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Bank of America cut BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. Finally, National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $45.00.

BCE Stock Up 1.3 %

The stock has a 50 day moving average price of $24.63 and a 200 day moving average price of $30.35. 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 has a market capitalization of $21.46 billion, a P/E ratio of 336.07, a PEG ratio of 3.83 and a beta of 0.56.

BCE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 12.53%. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, December 16th. BCE’s payout ratio is presently 4,028.57%.

Institutional Investors Weigh In On BCE

Large investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in BCE by 1,147.3% during the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 1,285 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after buying an additional 675 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of BCE by 67.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 799 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in BCE in the 3rd quarter worth about $51,000. Finally, Bruce G. Allen Investments LLC raised its stake in BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 1,268 shares during the period. Hedge funds and other institutional investors own 41.46% of the company’s stock.

BCE Company Profile

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.