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

BCE Inc. (NYSE:BCE) (TSE:BCE) was up 1.3% during trading on Friday . The company traded as high as $23.24 and last traded at $23.11. Approximately 766,302 shares changed hands during 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 Analysts Forecast Growth

Several equities analysts have recently weighed in on BCE shares. Canaccord Genuity Group cut BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Bank of America lowered shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Barclays cut their price objective on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, Morgan Stanley started coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.00.

BCE Stock Performance

The company has a market capitalization of $21.12 billion, a price-to-earnings ratio of 330.79, a P/E/G ratio of 3.76 and a beta of 0.56. The stock’s 50 day moving average price is $25.03 and its 200 day moving average price is $30.64. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26.

BCE Increases Dividend

The business also recently declared 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 12.73%. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, December 16th. BCE’s dividend payout ratio (DPR) is currently 4,028.57%.

Institutional Investors Weigh In On BCE

Several large investors have recently made changes to their positions in BCE. Hexagon Capital Partners LLC increased its holdings in 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. Brown Brothers Harriman & Co. bought a new position in shares of BCE in the 3rd quarter valued at about $51,000. Bruce G. Allen Investments LLC increased its stake in shares of BCE by 321.0% during 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 during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of BCE in the 3rd quarter valued at about $65,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake 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 last quarter. Institutional investors and hedge funds 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.