BCE (NYSE:BCE) Shares Up 2.1% – Should You Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shot up 2.1% during mid-day trading on Tuesday . The stock traded as high as $24.60 and last traded at $24.54. 445,068 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 3,164,682 shares. The stock had previously closed at $24.03.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Bank of America downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley assumed coverage on shares of BCE in a research note on Monday, December 16th. They set an “underweight” rating on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, BCE has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock 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 has a 50-day moving average of $24.26 and a 200 day moving average of $29.95. The stock has a market cap of $22.21 billion, a PE ratio of 347.93, a P/E/G ratio of 3.94 and a beta of 0.57.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.737 per share. This is a boost from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 12.11%. The ex-dividend date was Monday, December 16th. BCE’s dividend payout ratio (DPR) is presently 4,028.57%.

Institutional Investors Weigh In On BCE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning raised its holdings in BCE by 116.0% in the 2nd quarter. Creative Planning now owns 56,099 shares of the utilities provider’s stock valued at $1,816,000 after buying an additional 30,125 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of BCE by 19.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,600 shares of the utilities provider’s stock valued at $246,000 after acquiring an additional 1,230 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of BCE in the 2nd quarter valued at approximately $1,909,000. Dynamic Advisor Solutions LLC lifted its holdings in shares of BCE by 39.9% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 9,996 shares of the utilities provider’s stock worth $348,000 after acquiring an additional 2,852 shares during the last quarter. Finally, CWM LLC boosted its position in shares of BCE by 12.9% during the 3rd quarter. CWM LLC now owns 8,305 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 947 shares during the period. Hedge funds and other institutional investors 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.