BCE (NYSE:BCE) Shares Down 0.9% – Should You Sell?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) were down 0.9% during mid-day trading on Wednesday . The stock traded as low as $23.01 and last traded at $23.18. Approximately 469,669 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 3,350,179 shares. The stock had previously closed at $23.39.

Analyst Ratings Changes

A number of research analysts have recently commented on BCE shares. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Morgan Stanley assumed coverage on BCE in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Barclays restated an “underweight” rating on shares of BCE in a research note on Tuesday. National Bank Financial downgraded BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Edward Jones downgraded 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, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, BCE presently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Price Performance

The firm’s fifty day moving average price is $24.85 and its 200 day moving average price is $30.51. The firm has a market capitalization of $21.15 billion, a PE ratio of 331.33, a P/E/G ratio of 3.83 and a beta of 0.56. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a dividend of $0.737 per share. The ex-dividend date was Monday, December 16th. This is an increase from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a yield of 12.72%. BCE’s dividend payout ratio is 4,028.57%.

Institutional Trading of BCE

Hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its holdings in BCE by 4.8% during the third quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider’s stock worth $656,421,000 after buying an additional 864,472 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in BCE by 25.3% during the third quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider’s stock worth $127,282,000 after buying an additional 738,656 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted 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 worth $123,877,000 after buying an additional 1,166,800 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in BCE by 130.1% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 293,427 shares of the utilities provider’s stock worth $10,200,000 after acquiring an additional 165,881 shares during the period. Finally, Barclays PLC raised its position in BCE by 78.5% during the third quarter. Barclays PLC now owns 120,462 shares of the utilities provider’s stock worth $4,192,000 after acquiring an additional 52,966 shares during the period. 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.