BCE (NYSE:BCE) Stock Price Up 0.4% – Still a Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares rose 0.4% during mid-day trading on Tuesday . The stock traded as high as $22.98 and last traded at $22.94. Approximately 603,407 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,559,903 shares. The stock had previously closed at $22.84.

Analyst Ratings Changes

Several brokerages recently commented 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. BMO Capital Markets raised their price target on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Barclays cut their target price on 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, Morgan Stanley started coverage on BCE in a research note on Monday, December 16th. They issued an “underweight” rating for the company. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.00.

BCE Stock Performance

The business’s 50 day simple moving average is $27.91 and its two-hundred day simple moving average is $31.78. The firm has a market capitalization of $20.89 billion, a PE ratio of 327.14, 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.737 dividend. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a yield of 12.87%. BCE’s dividend payout ratio is currently 4,214.29%.

Institutional Investors Weigh In On BCE

Large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its holdings in shares of 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. purchased a new position in shares of BCE during the 3rd quarter worth $51,000. Bruce G. Allen Investments LLC grew its position in shares of BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 1,268 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of BCE in the 3rd quarter worth $65,000. Finally, Fairscale Capital LLC purchased a new stake in shares of BCE in the 2nd quarter worth $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.