BCE (NYSE:BCE) Trading Up 1.1% – Still a Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price was up 1.1% during mid-day trading on Wednesday . The company traded as high as $22.93 and last traded at $22.78. Approximately 607,722 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,290,892 shares. The stock had previously closed at $22.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BCE shares. Morgan Stanley initiated coverage on shares of BCE in a report on Monday, December 16th. They issued an “underweight” rating for the company. BMO Capital Markets lifted their price target on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. Bank of America cut shares of BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday. National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Two equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.00.

BCE Trading Up 0.9 %

The business’s 50-day moving average price is $25.36 and its 200 day moving average price is $30.81. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 324.86, a PEG ratio of 4.04 and a beta of 0.56.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.737 per share. This is a boost from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.96%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s payout ratio is presently 4,028.57%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC raised its stake in shares of BCE by 2.6% in the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock valued at $466,000 after buying an additional 367 shares during the period. Caldwell Sutter Capital Inc. raised its stake in shares of BCE by 3.9% in the third quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock valued at $413,000 after buying an additional 445 shares during the period. First Affirmative Financial Network raised its stake in shares of BCE by 6.1% in the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock valued at $285,000 after buying an additional 472 shares during the period. Prospera Financial Services Inc raised its stake in shares of BCE by 6.8% in the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock valued at $262,000 after buying an additional 478 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of BCE by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock valued at $1,006,000 after buying an additional 520 shares during the period. 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.