BCE (NYSE:BCE) Trading 0.3% Higher – Should You Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price was up 0.3% during mid-day trading on Wednesday . The company traded as high as $22.98 and last traded at $22.90. Approximately 1,710,307 shares traded hands during trading, a decline of 33% from the average daily volume of 2,564,915 shares. The stock had previously closed at $22.84.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BCE. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Edward Jones downgraded BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. BMO Capital Markets boosted their price target on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley started coverage on shares of BCE in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BCE presently has a consensus rating of “Hold” and an average price target of $45.00.

BCE Stock Performance

The stock has a market cap of $20.89 billion, a P/E ratio of 327.14, a PEG ratio of 4.04 and a beta of 0.54. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The company’s 50-day simple moving average is $28.12 and its 200 day simple moving average is $31.85.

BCE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 12.87%. The ex-dividend date is Monday, December 16th. This is an increase from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio is 4,214.29%.

Hedge Funds Weigh In On BCE

A number of hedge funds and other institutional investors have recently made changes to their positions in BCE. Pathway Financial Advisers LLC increased its holdings in BCE by 3,355.4% during 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. AGF Management Ltd. grew its position in shares of BCE by 5,036.0% during the 2nd quarter. AGF Management Ltd. now owns 1,354,413 shares of the utilities provider’s stock valued at $43,842,000 after acquiring an additional 1,328,042 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of BCE by 48.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider’s stock worth $123,877,000 after purchasing an additional 1,166,800 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of BCE by 23.8% in the 2nd quarter. CIBC Asset Management Inc now owns 5,520,090 shares of the utilities provider’s stock worth $178,677,000 after purchasing an additional 1,061,488 shares during the period. Finally, Toronto Dominion Bank lifted its stake in BCE by 12.0% in the second quarter. Toronto Dominion Bank now owns 8,450,810 shares of the utilities provider’s stock valued at $273,553,000 after purchasing an additional 905,857 shares during 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.