BCE (NYSE:BCE) Trading Up 0.1% – Should You Buy?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) shot up 0.1% during mid-day trading on Tuesday . The stock traded as high as $24.44 and last traded at $24.09. 787,246 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 3,202,680 shares. The stock had previously closed at $24.06.

Analyst Ratings Changes

A number of research firms recently commented on BCE. Bank of America cut shares of BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Barclays reiterated an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, BCE currently has an average rating of “Hold” and a consensus target price of $45.00.

BCE Stock Performance

The stock has a market cap of $21.79 billion, a P/E ratio of 341.21, a price-to-earnings-growth ratio of 3.83 and a beta of 0.56. 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 stock has a 50 day simple moving average of $24.44 and a 200 day simple moving average of $30.17.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.737 per share. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.95 annualized dividend and a yield of 12.34%. BCE’s dividend payout ratio is currently 4,028.57%.

Hedge Funds Weigh In On BCE

Several hedge funds and other institutional investors have recently modified their holdings of BCE. Allworth Financial LP boosted its stake in shares of BCE by 217.6% in the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 790 shares in the last quarter. Hexagon Capital Partners LLC grew its stake 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 worth $43,000 after buying an additional 675 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of BCE by 1,147.3% during the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after buying an additional 1,285 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of BCE during the 3rd quarter valued at $51,000. Finally, Bruce G. Allen Investments LLC increased its holdings 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 worth $58,000 after purchasing an additional 1,268 shares in the last quarter. 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.