BCE (NYSE:BCE) Trading Down 1.3% – Time to Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE) was down 1.3% during mid-day trading on Tuesday . The stock traded as low as $23.41 and last traded at $23.54. Approximately 1,196,637 shares traded hands during trading, a decline of 52% from the average daily volume of 2,494,548 shares. The stock had previously closed at $23.86.

Analyst Upgrades and Downgrades

A number of analysts have commented on BCE shares. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a report on Tuesday, November 5th. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. BMO Capital Markets lifted their target price on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. Barclays reduced their price target on BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, Edward Jones downgraded BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. One equities 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 given a strong buy rating to the company. According to MarketBeat.com, BCE currently has a consensus rating of “Hold” and a consensus target price 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 stock has a 50 day simple moving average of $28.92 and a 200-day simple moving average of $32.18. The firm has a market cap of $21.08 billion, a PE ratio of 330.14, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54.

BCE Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 annualized dividend and a dividend yield of 12.76%. This is a boost from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is currently 4,214.29%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. &PARTNERS bought a new position in shares of BCE during the 2nd quarter valued at approximately $298,000. Cypress Capital Group lifted its position in BCE by 21.8% during the second quarter. Cypress Capital Group now owns 8,924 shares of the utilities provider’s stock valued at $289,000 after purchasing an additional 1,595 shares during the last quarter. K.J. Harrison & Partners Inc grew its stake in shares of BCE by 133.1% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 157,825 shares of the utilities provider’s stock worth $5,109,000 after buying an additional 90,128 shares in the last quarter. Tobam grew its stake in shares of BCE by 64.8% in the 2nd quarter. Tobam now owns 21,030 shares of the utilities provider’s stock worth $681,000 after buying an additional 8,266 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of BCE by 9.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 109,811 shares of the utilities provider’s stock worth $3,555,000 after buying an additional 9,609 shares during the last quarter. 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.