BCE (NYSE:BCE) Stock Price Up 0.7% – Time to Buy?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) traded up 0.7% during trading on Friday . The company traded as high as $23.41 and last traded at $23.38. 315,409 shares changed hands during trading, a decline of 90% from the average session volume of 3,228,094 shares. The stock had previously closed at $23.22.

Analyst Ratings Changes

Several research firms have recently weighed in on BCE. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Morgan Stanley initiated coverage on shares of BCE in a research note on Monday, December 16th. They issued an “underweight” rating for the company. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Barclays reaffirmed an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.00.

BCE Price Performance

The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The stock’s 50 day moving average price is $24.63 and its two-hundred day moving average price is $30.35. The firm has a market capitalization of $21.46 billion, a price-to-earnings ratio of 336.07, a P/E/G ratio of 3.83 and a beta of 0.56.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were given a $0.737 dividend. This is a positive change from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 12.53%. The ex-dividend date of this dividend was Monday, December 16th. BCE’s dividend payout ratio is presently 4,028.57%.

Institutional Investors Weigh In On BCE

Institutional investors have recently made changes to their positions in the company. Pathway Financial Advisers LLC increased its holdings in BCE by 3,355.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,852,025 shares of the utilities provider’s stock worth $64,450,000 after buying an additional 1,798,427 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in BCE by 48.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider’s stock worth $123,877,000 after acquiring an additional 1,166,800 shares in the last quarter. National Bank of Canada FI increased its stake in shares of BCE by 4.8% during the 3rd quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider’s stock worth $656,421,000 after purchasing an additional 864,472 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of BCE during the 4th quarter valued at $17,271,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of BCE by 25.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider’s stock valued at $127,282,000 after purchasing an additional 738,656 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

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.