BCE (NYSE:BCE) Trading Down 4.6% – Should You Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s stock price dropped 4.6% during mid-day trading on Tuesday . The company traded as low as $22.02 and last traded at $22.14. Approximately 1,233,019 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 3,020,947 shares. The stock had previously closed at $23.21.

Analysts Set New Price Targets

Several research firms recently commented on BCE. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley started coverage on shares of BCE in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Finally, Bank of America downgraded BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday. Two investment 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. According to data from MarketBeat.com, BCE currently has a consensus rating of “Hold” and an average price target of $45.00.

BCE Price 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 firm has a market capitalization of $20.22 billion, a PE ratio of 316.57, a price-to-earnings-growth ratio of 4.04 and a beta of 0.56. The business has a 50-day moving average of $25.49 and a 200 day moving average of $30.88.

BCE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.737 per share. This is a positive change from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a dividend yield of 13.30%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio (DPR) is presently 4,028.57%.

Institutional Investors Weigh In On BCE

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCE. AE Wealth Management LLC increased its position in shares of BCE by 2.6% during the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock valued at $466,000 after acquiring an additional 367 shares during the last quarter. Caldwell Sutter Capital Inc. grew its stake in BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock valued at $413,000 after purchasing an additional 445 shares during the period. First Affirmative Financial Network raised its stake in shares of BCE by 6.1% during the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 472 shares during the period. Prospera Financial Services Inc boosted its holdings in shares of BCE by 6.8% in the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock worth $262,000 after buying an additional 478 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in BCE by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock valued at $1,006,000 after buying an additional 520 shares during the period. Hedge funds and other institutional investors 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.