BCE (NYSE:BCE) Trading Up 1.1% - Still a Buy?

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE was up 1.1% during trading on Wednesday . The stock traded as high as $22.93 and last traded at $22.78. Approximately 607,722 shares changed hands during trading, a decline of 82% from the average daily volume of 3,290,892 shares. The stock had previously closed at $22.54.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. National Bank Financial downgraded shares of BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Morgan Stanley assumed coverage on shares of BCE in a research note on Monday, December 16th. They issued an "underweight" rating for the company. Edward Jones downgraded BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Canaccord Genuity Group lowered BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Finally, Barclays decreased their price objective 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, BCE currently has a consensus rating of "Hold" and a consensus price target of $45.00.

BCE Stock Up 0.8 %

The company has a market cap of $20.72 billion, a PE ratio of 324.43, a P/E/G ratio of 4.04 and a beta of 0.56. The stock has a 50-day moving average of $25.36 and a 200-day moving average of $30.81. 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 declared 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 annualized dividend and a dividend yield of 12.98%. 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pathway Financial Advisers LLC lifted its position in BCE by 3,355.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,852,025 shares of the utilities provider's stock valued at $64,450,000 after purchasing an additional 1,798,427 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BCE by 48.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider's stock valued at $123,877,000 after buying an additional 1,166,800 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of BCE by 12.0% during the 2nd quarter. Toronto Dominion Bank now owns 8,450,810 shares of the utilities provider's stock worth $273,553,000 after acquiring an additional 905,857 shares during the last quarter. National Bank of Canada FI grew its position in BCE by 4.8% in the third quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider's stock worth $656,421,000 after acquiring an additional 864,472 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in BCE by 25.3% in the third quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider's stock valued at $127,282,000 after acquiring an additional 738,656 shares during the last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Company Profile

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.