BCE (NYSE:BCE) Stock Price Down 0.4% – Should You Sell?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) dropped 0.4% during mid-day trading on Thursday . The company traded as low as $22.74 and last traded at $22.81. Approximately 909,388 shares changed hands during trading, a decline of 64% from the average daily volume of 2,557,801 shares. The stock had previously closed at $22.90.

Analyst Ratings Changes

A number of research firms recently weighed in on BCE. Morgan Stanley began coverage on BCE in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Barclays lowered their target price on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Stock Down 0.9 %

The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 323.71, a P/E/G ratio of 4.04 and a beta of 0.54. 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’s 50 day moving average is $27.48 and its two-hundred day moving average is $31.64.

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 given a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 13.01%. The ex-dividend date is Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is currently 4,214.29%.

Institutional Trading of BCE

Hedge funds have recently bought and sold shares of the company. National Bank of Canada FI lifted its stake in shares of BCE by 4.8% during the 3rd quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider’s stock worth $656,421,000 after purchasing an additional 864,472 shares during the period. Toronto Dominion Bank lifted its position in BCE by 12.0% during the second quarter. Toronto Dominion Bank now owns 8,450,810 shares of the utilities provider’s stock worth $273,553,000 after buying an additional 905,857 shares during the period. CIBC Asset Management Inc boosted its stake in BCE by 23.8% in the 2nd quarter. CIBC Asset Management Inc now owns 5,520,090 shares of the utilities provider’s stock worth $178,677,000 after buying an additional 1,061,488 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in BCE by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,068,728 shares of the utilities provider’s stock worth $163,932,000 after buying an additional 21,487 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in BCE by 25.3% in 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 period. 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.