BCE (NYSE:BCE) Shares Up 3.9% – Time to Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares shot up 3.9% during trading on Thursday . The company traded as high as $22.56 and last traded at $22.66. 3,280,965 shares were traded during trading, an increase of 21% from the average session volume of 2,706,494 shares. The stock had previously closed at $21.82.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BCE shares. Barclays restated an “underweight” rating on shares of BCE in a research note on Tuesday, January 21st. Morgan Stanley assumed coverage on shares of BCE in a research report on Monday, December 16th. They issued an “underweight” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $39.00 price objective on shares of BCE in a research report on Tuesday, February 25th. National Bankshares restated a “sector perform” rating on shares of BCE in a research note on Tuesday, March 11th. Finally, Bank of America downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.00.

BCE Stock Up 3.9 %

The firm has a market capitalization of $20.89 billion, a PE ratio of 188.88, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The firm’s 50-day moving average is $23.55 and its 200 day moving average is $26.74.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. As a group, research analysts forecast that BCE Inc. will post 1.94 earnings per share for the current fiscal year.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.6965 dividend. This represents a $2.79 annualized dividend and a yield of 12.29%. The ex-dividend date is Friday, March 14th. BCE’s dividend payout ratio (DPR) is 2,291.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BCE. Bernard Wealth Management Corp. acquired a new position in BCE during the 4th quarter worth $26,000. Allworth Financial LP grew its holdings in BCE by 217.6% in the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock worth $27,000 after buying an additional 790 shares in the last quarter. WealthCollab LLC bought a new stake in shares of BCE during the fourth quarter valued at about $27,000. Blue Trust Inc. lifted its stake in shares of BCE by 1,147.3% in the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,285 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of BCE by 67.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 799 shares in the last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.

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.