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

BCE Inc. (NYSE:BCE) (TSE:BCE)’s stock price was up 0.1% on Monday . The stock traded as high as $24.17 and last traded at $23.85. Approximately 720,120 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,454,904 shares. The stock had previously closed at $23.82.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. BMO Capital Markets raised their target price on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Barclays cut their price target on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, National Bank Financial downgraded BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Up 0.7 %

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 market capitalization of $21.88 billion, a PE ratio of 342.57, a P/E/G ratio of 4.04 and a beta of 0.56. The stock’s fifty day simple moving average is $26.48 and its 200-day simple moving average is $31.27.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 12.29%. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio is presently 4,214.29%.

Hedge Funds Weigh In On BCE

Several hedge funds have recently modified their holdings of BCE. Hexagon Capital Partners LLC boosted its position in BCE by 121.2% in the third 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 during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of BCE in the 3rd quarter worth about $51,000. Bruce G. Allen Investments LLC grew its position 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 valued at $58,000 after buying an additional 1,268 shares during the period. Legacy Investment Solutions LLC purchased a new stake in BCE during the third quarter worth about $65,000. Finally, Fairscale Capital LLC bought a new stake in BCE in the second quarter worth about $76,000. Institutional investors 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.