BCE (NYSE:BCE) Stock Price Down 1.9% – Should You Sell?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) dropped 1.9% during trading on Monday . The company traded as low as $24.06 and last traded at $24.36. Approximately 1,371,868 shares were traded during trading, a decline of 45% from the average daily volume of 2,473,485 shares. The stock had previously closed at $24.82.

Analysts Set New Price Targets

BCE has been the subject of a number of analyst reports. Barclays lowered their target price 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 reiterated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. BMO Capital Markets upped their price objective on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Edward Jones downgraded shares of 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 assigned 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.com, BCE has an average rating of “Hold” and an average price target of $45.00.

BCE Stock Down 3.9 %

The business’s fifty day moving average price is $29.51 and its 200 day moving average price is $32.39. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $21.77 billion, a PE ratio of 348.00, a PEG 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. Stockholders of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.36%. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is presently 4,214.29%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its holdings in BCE by 121.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in BCE during the third quarter worth about $51,000. Bruce G. Allen Investments LLC raised its holdings in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in BCE during the third quarter worth about $65,000. Finally, Fairscale Capital LLC purchased a new position in BCE in the second quarter valued at about $76,000. 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.