BCE (NYSE:BCE) Trading 0.8% Higher – Should You Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares rose 0.8% during trading on Thursday . The stock traded as high as $23.62 and last traded at $23.36. Approximately 451,717 shares changed hands during trading, a decline of 82% from the average daily volume of 2,579,633 shares. The stock had previously closed at $23.18.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BCE shares. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley initiated coverage on shares of BCE in a research note on Monday, December 16th. They set an “underweight” rating for the company. Barclays decreased their target price on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.

BCE Stock Up 2.4 %

The firm’s fifty day simple moving average is $26.66 and its two-hundred day simple moving average is $31.35. The company has a market capitalization of $21.73 billion, a price-to-earnings ratio of 340.29, a price-to-earnings-growth 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.

BCE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid 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 12.38%. BCE’s dividend payout ratio (DPR) is 4,214.29%.

Institutional Trading of BCE

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position 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 worth $127,282,000 after purchasing an additional 738,656 shares during the period. DGS Capital Management LLC lifted its stake in BCE by 55.9% during the third quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 4,605 shares in the last quarter. Logan Capital Management Inc. boosted its position in shares of BCE by 4.5% during the third quarter. Logan Capital Management Inc. now owns 103,643 shares of the utilities provider’s stock worth $3,607,000 after buying an additional 4,438 shares during the period. Old North State Trust LLC grew its stake in shares of BCE by 25.2% in the third quarter. Old North State Trust LLC now owns 7,786 shares of the utilities provider’s stock valued at $271,000 after buying an additional 1,566 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of BCE by 138.1% in the 3rd quarter. Tidal Investments LLC now owns 14,884 shares of the utilities provider’s stock valued at $518,000 after buying an additional 8,633 shares during the period. 41.46% of the stock is 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.