BCE (NYSE:BCE) Shares Up 1.3% – Time to Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price traded up 1.3% during trading on Friday . The company traded as high as $23.24 and last traded at $23.11. 766,302 shares were traded during trading, a decline of 77% from the average session volume of 3,346,638 shares. The stock had previously closed at $22.82.

Analyst Ratings Changes

Several brokerages have issued reports on BCE. Morgan Stanley initiated coverage on BCE in a report on Monday, December 16th. They issued an “underweight” rating for the company. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Barclays reduced their price target on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.00.

BCE Trading Up 0.8 %

The company has a market cap of $20.99 billion, a PE ratio of 328.57, a price-to-earnings-growth ratio of 3.76 and a beta of 0.56. The company’s 50 day simple moving average is $25.24 and its two-hundred day simple moving average is $30.75. 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.737 per share. The ex-dividend date was Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.81%. This is a boost from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is presently 4,028.57%.

Institutional Investors Weigh In On BCE

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC grew its position in BCE by 166.1% in the 2nd quarter. Parallel Advisors LLC now owns 9,156 shares of the utilities provider’s stock valued at $296,000 after acquiring an additional 5,715 shares in the last quarter. Wealth Advisors of Tampa Bay LLC boosted its stake in shares of BCE by 9.2% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 35,558 shares of the utilities provider’s stock valued at $1,151,000 after purchasing an additional 2,990 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of BCE by 6.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 27,614 shares of the utilities provider’s stock valued at $894,000 after purchasing an additional 1,779 shares in the last quarter. AE Wealth Management LLC increased its stake in BCE by 2.6% during the 2nd quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock worth $466,000 after buying an additional 367 shares during the period. Finally, Legacy Financial Advisors Inc. acquired a new stake in BCE during the 2nd quarter worth approximately $232,000. 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.