BCE (NYSE:BCE) Shares Down 0.9% – Time to Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares traded down 0.9% on Thursday . The stock traded as low as $23.36 and last traded at $23.64. 2,334,861 shares were traded during mid-day trading, a decline of 31% from the average session volume of 3,366,279 shares. The stock had previously closed at $23.86.

Wall Street Analyst Weigh In

BCE has been the topic of a number of recent research reports. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley initiated coverage on BCE in a research report on Monday, December 16th. They issued an “underweight” rating for the company. BMO Capital Markets raised their price objective on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

BCE Price Performance

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 cap of $20.94 billion, a PE ratio of 327.86, a price-to-earnings-growth ratio of 4.04 and a beta of 0.56. The stock has a 50 day moving average price of $25.61 and a two-hundred day moving average price of $30.97.

BCE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.737 per share. This is a positive change 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 12.85%. BCE’s dividend payout ratio is presently 4,214.29%.

Institutional Trading of BCE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of BCE by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock valued at $1,006,000 after acquiring an additional 520 shares during the last quarter. JPMorgan Chase & Co. lifted its position in BCE by 25.3% during the third quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider’s stock valued at $127,282,000 after purchasing an additional 738,656 shares during the period. DGS Capital Management LLC boosted its holdings in BCE by 55.9% in the third quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 4,605 shares during the last quarter. Logan Capital Management Inc. grew its position in BCE by 4.5% during the 3rd quarter. Logan Capital Management Inc. now owns 103,643 shares of the utilities provider’s stock worth $3,607,000 after purchasing an additional 4,438 shares during the period. Finally, Old North State Trust LLC raised its stake in shares of BCE by 25.2% during the 3rd 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 last quarter. Institutional investors and hedge funds 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.