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

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BCE shares. National Bank Financial downgraded BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley began coverage on shares of BCE in a report on Monday, December 16th. They issued an “underweight” rating for the company. Barclays reduced their price objective on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Two equities research analysts have 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Down 4.5 %

The company has a market cap of $20.22 billion, a PE ratio of 316.57, a P/E/G ratio of 4.04 and a beta of 0.56. The stock has a 50-day moving average of $25.49 and a 200-day moving average of $30.88. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26.

BCE Increases Dividend

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

Institutional Trading of BCE

A number of hedge funds have recently bought and sold shares of the company. Fiduciary Alliance LLC lifted its holdings in shares of BCE by 16.8% in the 4th quarter. Fiduciary Alliance LLC now owns 9,929 shares of the utilities provider’s stock worth $230,000 after acquiring an additional 1,429 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in BCE by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock worth $1,006,000 after purchasing an additional 520 shares during the period. JPMorgan Chase & Co. lifted its stake in BCE by 25.3% in the third quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider’s stock worth $127,282,000 after purchasing an additional 738,656 shares during the last quarter. DGS Capital Management LLC boosted its position in BCE by 55.9% during the third quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider’s stock valued at $447,000 after buying an additional 4,605 shares during the period. Finally, Logan Capital Management Inc. grew its stake in shares of BCE by 4.5% during the third quarter. Logan Capital Management Inc. now owns 103,643 shares of the utilities provider’s stock valued at $3,607,000 after buying an additional 4,438 shares during the last quarter. 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.