BCE (NYSE:BCE) Shares Up 0.1% – Still a Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares shot up 0.1% during mid-day trading on Tuesday . The stock traded as high as $24.44 and last traded at $24.09. 787,246 shares changed hands during trading, a decline of 75% from the average session volume of 3,202,680 shares. The stock had previously closed at $24.06.

Analysts Set New Price Targets

Several brokerages recently issued reports on BCE. Morgan Stanley began coverage on shares of BCE in a research note on Monday, December 16th. They set an “underweight” rating on the stock. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Barclays reaffirmed an “underweight” rating on shares of BCE in a research note on Tuesday, January 21st. Finally, National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.00.

BCE Stock Down 0.6 %

The firm’s 50-day moving average price is $24.57 and its 200-day moving average price is $30.27. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 341.50, a price-to-earnings-growth ratio of 3.83 and a beta of 0.56. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 12.33%. This is a positive change from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, December 16th. BCE’s dividend payout ratio (DPR) is presently 4,028.57%.

Institutional Investors Weigh In On BCE

A number of large investors have recently added to or reduced their stakes in BCE. Blue Trust Inc. grew its holdings in BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,285 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 675 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in BCE by 67.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 799 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in BCE during the 3rd quarter worth $51,000. Finally, Bruce G. Allen Investments LLC grew its holdings in BCE by 321.0% during 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 in the last quarter. 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.