BCE (NYSE:BCE) Trading 1.3% Higher - Still a Buy?

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America cut BCE from a "neutral" rating to an "underperform" rating in a report on Tuesday. Canaccord Genuity Group lowered shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. BMO Capital Markets increased their price target on shares of BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a report on Thursday, September 19th. Barclays cut their price objective on shares of BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Finally, Morgan Stanley initiated coverage on shares of BCE in a research note on Monday, December 16th. They set an "underweight" rating on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, BCE has an average rating of "Hold" and an average price target of $45.00.

BCE Stock Performance

The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The stock has a market cap of $20.99 billion, a price-to-earnings ratio of 328.57, a P/E/G ratio of 3.76 and a beta of 0.56. The firm's 50-day moving average is $25.24 and its two-hundred day moving average is $30.75.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 12.81%. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from BCE's previous quarterly dividend of $0.73. BCE's dividend payout ratio (DPR) is 4,028.57%.

Institutional Trading of BCE

A number of institutional investors have recently made changes to their positions in BCE. AE Wealth Management LLC lifted its holdings in BCE by 2.6% in the 2nd quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider's stock valued at $466,000 after purchasing an additional 367 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its stake in shares of BCE by 3.9% in the third quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider's stock worth $413,000 after buying an additional 445 shares in the last quarter. First Affirmative Financial Network boosted its position in BCE by 6.1% during the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider's stock worth $285,000 after acquiring an additional 472 shares during the last quarter. Prospera Financial Services Inc grew its stake in BCE by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider's stock valued at $262,000 after acquiring an additional 478 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in BCE by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider's stock valued at $1,006,000 after acquiring an additional 520 shares during the last quarter. 41.46% of the stock is owned by institutional investors and hedge funds.

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.

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