BCE (NYSE:BCE) Trading Up 3.9% – Still a Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price was up 3.9% during mid-day trading on Thursday . The company traded as high as $22.56 and last traded at $22.66. Approximately 3,280,965 shares changed hands during trading, an increase of 21% from the average daily volume of 2,706,494 shares. The stock had previously closed at $21.82.

Analyst Ratings Changes

BCE has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $39.00 price objective on shares of BCE in a report on Tuesday, February 25th. Barclays restated an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Morgan Stanley began coverage on shares of BCE in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Bank of America lowered shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Finally, National Bankshares reiterated a “sector perform” rating on shares of BCE in a report on Tuesday, March 11th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.00.

BCE Stock Up 3.9 %

The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The business has a 50-day simple moving average of $23.55 and a 200-day simple moving average of $26.74. The stock has a market cap of $20.89 billion, a P/E ratio of 188.88, a PEG ratio of 4.13 and a beta of 0.57.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. Analysts expect that BCE Inc. will post 1.94 EPS for the current year.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.6965 per share. The ex-dividend date is Friday, March 14th. This represents a $2.79 dividend on an annualized basis and a yield of 12.29%. BCE’s dividend payout ratio (DPR) is presently 2,291.67%.

Hedge Funds Weigh In On BCE

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new position in shares of BCE in the fourth quarter valued at about $26,000. Allworth Financial LP lifted its holdings in BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock worth $27,000 after buying an additional 790 shares in the last quarter. WealthCollab LLC bought a new position in BCE in the 4th quarter valued at $27,000. Blue Trust Inc. increased its stake in shares of BCE by 1,147.3% in the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,285 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of BCE by 67.6% during the fourth 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 during the last quarter. Institutional investors and hedge funds 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.