BCE (NYSE:BCE) Trading Up 1.6% – Should You Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares were up 1.6% on Monday . The company traded as high as $27.22 and last traded at $27.21. Approximately 1,286,041 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 2,429,135 shares. The stock had previously closed at $26.78.

Wall Street Analyst Weigh In

A number of research firms have commented on BCE. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Barclays lowered their price target on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. BMO Capital Markets raised their price objective on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Nine investment analysts have rated the stock with 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 company has an average rating of “Hold” and an average price target of $45.00.

BCE Stock Down 1.6 %

The firm has a market cap of $24.15 billion, a price-to-earnings ratio of 378.14, a P/E/G ratio of 4.17 and a beta of 0.54. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a 50-day moving average of $30.17 and a 200-day moving average of $32.60.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.737 per share. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. This represents a $2.95 annualized dividend and a yield of 11.14%. BCE’s dividend payout ratio is currently 4,214.29%.

Hedge Funds Weigh In On BCE

Hedge funds and other institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC increased its stake in BCE by 2.6% in the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock valued at $466,000 after acquiring an additional 367 shares during the last quarter. Caldwell Sutter Capital Inc. increased its stake in shares of BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock valued at $413,000 after purchasing an additional 445 shares during the last quarter. First Affirmative Financial Network increased its stake in shares of BCE by 6.1% in the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 472 shares during the last quarter. Prospera Financial Services Inc raised its holdings in shares of BCE by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock worth $262,000 after buying an additional 478 shares in the last quarter. Finally, FMR LLC lifted its position in shares of BCE by 6.8% during the 3rd quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock worth $324,000 after buying an additional 596 shares during the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

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.