BCE (NYSE:BCE) Trading 2.1% Higher – Should You Buy?

BCE Inc. (NYSE:BCE) (TSE:BCE) traded up 2.1% during mid-day trading on Tuesday . The stock traded as high as $24.60 and last traded at $24.54. 445,068 shares were traded during mid-day trading, a decline of 86% from the average session volume of 3,164,682 shares. The stock had previously closed at $24.03.

Analyst Ratings Changes

A number of brokerages have commented on BCE. Barclays restated an “underweight” rating on shares of BCE in a research note on Tuesday, January 21st. Morgan Stanley began coverage on shares of BCE in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.00.

BCE Stock Performance

The company’s 50-day simple moving average is $24.18 and its 200 day simple moving average is $29.86. The stock has a market cap of $21.49 billion, a P/E ratio of 336.50, a PEG ratio of 3.94 and a beta of 0.57. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26.

BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. BCE had a return on equity of 17.58% and a net margin of 0.76%. As a group, sell-side analysts expect that BCE Inc. will post 2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On BCE

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC grew its position in shares of BCE by 3,355.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,852,025 shares of the utilities provider’s stock valued at $64,450,000 after acquiring an additional 1,798,427 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in BCE by 48.7% during the third 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 purchasing an additional 1,166,800 shares during the period. National Bank of Canada FI raised its stake in shares of 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 valued at $656,421,000 after buying an additional 864,472 shares during the period. SG Americas Securities LLC bought a new stake in shares of BCE in the fourth quarter valued at $17,271,000. Finally, JPMorgan Chase & Co. lifted its position in shares of BCE by 25.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider’s stock valued at $127,282,000 after buying an additional 738,656 shares during the last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.

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.