BCE (NYSE:BCE) Trading 1.2% Higher – Time to Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shot up 1.2% during trading on Thursday . The stock traded as high as $24.01 and last traded at $23.98. 579,348 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,198,932 shares. The stock had previously closed at $23.70.

Wall Street Analyst Weigh In

BCE has been the topic of a number of recent analyst reports. Barclays restated an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Bank of America lowered shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Morgan Stanley assumed coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Finally, Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, BCE has an average rating of “Hold” and an average price target of $45.00.

BCE Trading Up 0.8 %

The company has a market capitalization of $21.79 billion, a price-to-earnings ratio of 341.21, a price-to-earnings-growth ratio of 3.83 and a beta of 0.56. The firm has a fifty day moving average price of $24.44 and a 200-day moving average price of $30.17. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a $0.737 dividend. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a dividend yield of 12.34%. BCE’s payout ratio is presently 4,028.57%.

Institutional Trading of BCE

Several large investors have recently made changes to their positions in BCE. Caldwell Sutter Capital Inc. lifted its stake in BCE by 3.9% during the third quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock worth $413,000 after purchasing an additional 445 shares during the last quarter. First Affirmative Financial Network lifted its position in shares of BCE by 6.1% during the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock worth $285,000 after buying an additional 472 shares during the last quarter. Prospera Financial Services Inc grew its position in 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 acquiring an additional 478 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in BCE by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock worth $1,006,000 after acquiring an additional 520 shares in the last quarter. Finally, FMR LLC raised its stake in BCE by 6.8% during the third quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock worth $324,000 after acquiring an additional 596 shares in 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.