BCE (NYSE:BCE) Shares Up 2.6% - Should You Buy?

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE shares shot up 2.6% during mid-day trading on Tuesday . The stock traded as high as $23.20 and last traded at $23.11. 954,398 shares traded hands during trading, a decline of 63% from the average session volume of 2,567,976 shares. The stock had previously closed at $22.53.

Analyst Ratings Changes

A number of research firms recently commented on BCE. Canaccord Genuity Group reissued a "hold" rating on shares of BCE in a report on Tuesday, November 5th. Morgan Stanley started coverage on shares of BCE in a report on Monday, December 16th. They issued an "underweight" rating on the stock. BMO Capital Markets raised their target price on shares of BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a research note on Thursday, September 19th. Canaccord Genuity Group cut shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Finally, Barclays cut their price objective on BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $45.00.

BCE Trading Up 2.9 %

The stock has a market cap of $21.15 billion, a P/E ratio of 331.14, a P/E/G ratio of 4.04 and a beta of 0.54. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The stock's fifty day moving average is $27.06 and its 200 day moving average is $31.46.

BCE Increases Dividend

The business 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. This represents a $2.95 annualized dividend and a dividend yield of 12.72%. This is a positive change from BCE's previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE's dividend payout ratio (DPR) is presently 4,214.29%.

Hedge Funds Weigh In On BCE

Several large investors have recently modified their holdings of BCE. Hexagon Capital Partners LLC boosted its stake in BCE by 121.2% during 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 period. Brown Brothers Harriman & Co. bought a new stake in shares of BCE in the 3rd quarter worth about $51,000. Bruce G. Allen Investments LLC boosted its stake 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 worth $58,000 after purchasing an additional 1,268 shares during the period. Legacy Investment Solutions LLC bought a new position in BCE during the 3rd quarter valued at about $65,000. Finally, Fairscale Capital LLC purchased a new stake in BCE in the 2nd quarter worth about $76,000. Institutional investors own 41.46% of the company's stock.

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.