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

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price was up 1% during mid-day trading on Tuesday . The company traded as high as $23.41 and last traded at $23.38. Approximately 746,959 shares traded hands during trading, a decline of 77% from the average daily volume of 3,316,945 shares. The stock had previously closed at $23.15.

Analysts Set New Price Targets

BCE has been the subject of several research analyst reports. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on BCE in a report on Monday, December 16th. They issued an “underweight” rating for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Stock Up 0.4 %

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 stock’s 50-day simple moving average is $24.77 and its 200 day simple moving average is $30.46. The firm has a market cap of $21.20 billion, a P/E ratio of 331.93, a PEG ratio of 3.87 and a beta of 0.56.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a dividend of $0.737 per share. This is an increase 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 dividend yield of 12.69%. BCE’s dividend payout ratio (DPR) is 4,028.57%.

Institutional Inflows and Outflows

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

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.