BCE (NYSE:BCE) Stock Price Down 2.5% – Should You Sell?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) traded down 2.5% during mid-day trading on Friday . The stock traded as low as $22.91 and last traded at $23.04. 926,649 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,931,439 shares. The stock had previously closed at $23.63.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Morgan Stanley started coverage on shares of BCE in a research report on Monday, December 16th. They set an “underweight” rating on the stock. Finally, BMO Capital Markets boosted their price objective on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.00.

BCE Stock Down 2.9 %

The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 327.86, a P/E/G ratio of 4.04 and a beta of 0.56. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The firm’s fifty day moving average price is $25.61 and its 200-day moving average price is $30.96.

BCE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.737 per share. This is a boost from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a dividend yield of 12.85%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s payout ratio is 4,214.29%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of BCE by 1.2% during the fourth 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. raised its position in BCE by 25.3% during the 3rd 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 lifted its holdings in BCE by 55.9% during the 3rd quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider’s stock worth $447,000 after buying an additional 4,605 shares during the period. Logan Capital Management Inc. grew its position in shares of BCE by 4.5% in the 3rd 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. Finally, Old North State Trust LLC increased its stake in shares of BCE by 25.2% in the third quarter. Old North State Trust LLC now owns 7,786 shares of the utilities provider’s stock valued at $271,000 after buying an additional 1,566 shares during the period. Institutional investors own 41.46% of the company’s stock.

BCE Company Profile

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.