BCE (NYSE:BCE) Trading 1.5% Higher – Still a Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price was up 1.5% during mid-day trading on Monday . The company traded as high as $23.24 and last traded at $23.16. Approximately 2,840,402 shares changed hands during trading, a decline of 24% from the average daily volume of 3,751,226 shares. The stock had previously closed at $22.82.

Wall Street Analyst Weigh In

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

BCE Price Performance

The company has a market cap of $21.12 billion, a price-to-earnings ratio of 330.79, a price-to-earnings-growth ratio of 3.76 and a beta of 0.56. The company has a fifty day simple moving average of $25.03 and a two-hundred day simple moving average of $30.63. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26.

BCE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, December 16th. BCE’s dividend payout ratio is presently 4,028.57%.

Hedge Funds Weigh In On BCE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC increased its stake in shares of BCE by 121.2% during 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 holdings in BCE by 67.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock valued at $46,000 after buying an additional 799 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in BCE during the third quarter worth $51,000. Bruce G. Allen Investments LLC increased 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 worth $58,000 after buying an additional 1,268 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of BCE in the third quarter worth $65,000. 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.