BCE (NYSE:BCE) Stock Price Down 0.4% – Should You Sell?

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) dropped 0.4% during mid-day trading on Friday . The stock traded as low as $22.66 and last traded at $22.78. Approximately 597,892 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 2,560,359 shares. The stock had previously closed at $22.87.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. BMO Capital Markets boosted their target price 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. Barclays lowered their price target on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, BCE currently has an average rating of “Hold” and a consensus price target of $45.00.

BCE Stock Down 0.9 %

The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 323.71, a PEG ratio of 4.04 and a beta of 0.54. The business has a fifty day simple moving average of $27.48 and a 200 day simple moving average of $31.63. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.737 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a yield of 13.01%. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is presently 4,214.29%.

Hedge Funds Weigh In On BCE

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC boosted its holdings in shares of BCE by 197.3% during the 2nd quarter. Signaturefd LLC now owns 17,592 shares of the utilities provider’s stock worth $569,000 after purchasing an additional 11,674 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in BCE by 10.4% in the 2nd quarter. Maryland State Retirement & Pension System now owns 52,962 shares of the utilities provider’s stock valued at $1,716,000 after buying an additional 5,008 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in BCE by 53.7% in the 2nd quarter. Pinnacle Associates Ltd. now owns 108,372 shares of the utilities provider’s stock valued at $3,508,000 after buying an additional 37,860 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of BCE by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 203,291 shares of the utilities provider’s stock worth $6,581,000 after acquiring an additional 5,158 shares during the last quarter. Finally, Essex Financial Services Inc. purchased a new position in shares of BCE during the 2nd quarter worth $574,000. 41.46% of the stock is currently owned by institutional investors and hedge funds.

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.