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

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on BCE. BMO Capital Markets lifted their target price on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley started coverage on BCE in a research note on Monday, December 16th. They set an “underweight” rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Down 1.6 %

The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a market capitalization of $21.42 billion, a PE ratio of 335.43, a price-to-earnings-growth ratio of 4.04 and a beta of 0.56. The business’s fifty day moving average price is $26.13 and its two-hundred day moving average price is $31.14.

BCE Increases Dividend

The company 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 dividend of $0.737 per share. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.56%. BCE’s dividend payout ratio (DPR) is presently 4,214.29%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCE. Hexagon Capital Partners LLC boosted its holdings in shares of BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 675 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in BCE in the third quarter valued at $51,000. Bruce G. Allen Investments LLC lifted its holdings 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 worth $58,000 after acquiring an additional 1,268 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of BCE during the third quarter worth $65,000. Finally, Fairscale Capital LLC purchased a new stake in BCE during the second quarter worth about $76,000. Hedge funds and other institutional investors own 41.46% of the company’s stock.

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.