BCE (NYSE:BCE) Trading Up 1% – Still a Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares were up 1% during trading on Tuesday . The company traded as high as $23.41 and last traded at $23.38. Approximately 746,959 shares traded hands during trading, a decline of 77% from the average daily volume of 3,316,945 shares. The stock had previously closed at $23.15.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BCE shares. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Bank of America downgraded BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Morgan Stanley started coverage on BCE in a research report on Monday, December 16th. They issued an “underweight” rating for the company. Finally, Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Three equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.00.

BCE Price Performance

The firm’s 50 day simple moving average is $24.77 and its two-hundred day simple moving average is $30.46. 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 firm has a market capitalization of $21.20 billion, a P/E ratio of 331.93, a P/E/G ratio of 3.87 and a beta of 0.56.

BCE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were paid a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.69%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is 4,028.57%.

Institutional Trading of BCE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AE Wealth Management LLC grew its position in shares of BCE by 2.6% during the 2nd quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock worth $466,000 after buying an additional 367 shares in the last quarter. Caldwell Sutter Capital Inc. increased its position in BCE by 3.9% during 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 period. First Affirmative Financial Network raised its holdings 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 in the last quarter. Prospera Financial Services Inc lifted its position in shares of BCE by 6.8% in the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 478 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of BCE by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock valued at $1,006,000 after purchasing an additional 520 shares in the last quarter. 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.