BCE (NYSE:BCE) Trading Up 0.3% – Still a Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on BCE shares. Morgan Stanley started coverage on shares of BCE in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Canaccord Genuity Group cut BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. BMO Capital Markets raised their price target on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a report on Thursday, September 19th. Finally, Barclays reduced their price objective on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nine have given 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, BCE currently has an average rating of “Hold” and an average price target of $45.00.

BCE Price Performance

The company has a 50 day moving average of $27.70 and a two-hundred day moving average of $31.72. The firm has a market cap of $20.86 billion, a P/E ratio of 326.71, a PEG ratio of 4.04 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26.

BCE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.737 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 annualized dividend and a dividend yield of 12.89%. This is a boost from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is currently 4,214.29%.

Institutional Trading of BCE

A number of hedge funds and other institutional investors have recently made changes to their positions in BCE. Hexagon Capital Partners LLC grew its position in BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after buying an additional 675 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of BCE during the 3rd quarter worth $51,000. Bruce G. Allen Investments LLC grew its holdings in shares of BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 1,268 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of BCE during the third quarter worth $65,000. Finally, Fairscale Capital LLC purchased a new stake in shares of BCE during the second quarter valued at $76,000. 41.46% of the stock is currently owned by institutional investors.

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.