BCE (NYSE:BCE) Shares Down 1.3% – Should You Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price traded down 1.3% on Wednesday . The stock traded as low as $23.36 and last traded at $23.55. 574,592 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,002,359 shares. The stock had previously closed at $23.86.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays cut their price objective on BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Edward Jones downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley initiated coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.00.

BCE Stock Performance

The firm has a 50 day moving average of $25.79 and a 200-day moving average of $31.04. The stock has a market capitalization of $20.94 billion, a PE ratio of 327.86, a P/E/G ratio of 4.04 and a beta of 0.56. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62.

BCE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $0.737 dividend. This is an increase from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 12.85%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is currently 4,214.29%.

Institutional Investors Weigh In On BCE

A number of hedge funds and other institutional investors have recently made changes to their positions in BCE. Hexagon Capital Partners LLC raised its stake in shares of BCE by 121.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of BCE in the 3rd quarter valued at approximately $51,000. Bruce G. Allen Investments LLC raised its stake in shares of BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of BCE in the 3rd quarter valued at approximately $65,000. Finally, Fairscale Capital LLC bought a new position in shares of BCE in the 2nd quarter valued at approximately $76,000. 41.46% of the stock is owned by hedge funds and other institutional investors.

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.