BCE (NYSE:BCE) Stock Price Down 1.3% - Should You Sell?

Shares of BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE fell 1.3% during trading on Wednesday . The company traded as low as $23.36 and last traded at $23.55. 574,592 shares changed hands during trading, a decline of 81% from the average session volume of 3,002,359 shares. The stock had previously closed at $23.86.

Wall Street Analysts Forecast Growth

BCE has been the subject of a number of recent research reports. Canaccord Genuity Group reiterated a "hold" rating on shares of BCE 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 increased their price objective on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a report on Thursday, September 19th. Canaccord Genuity Group downgraded 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 report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $45.00.

BCE Trading Down 0.9 %

The stock has a market cap of $21.57 billion, a PE ratio of 337.71, a PEG ratio of 4.04 and a beta of 0.56. 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 firm has a fifty day simple moving average of $26.13 and a two-hundred day simple moving average of $31.14.

BCE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.737 per share. The ex-dividend date is Monday, December 16th. This is a positive change from BCE's previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 12.47%. BCE's payout ratio is presently 4,214.29%.

Hedge Funds Weigh In On BCE

A number of institutional investors have recently made changes to their positions in the stock. AGF Management Ltd. lifted its position in BCE by 5,036.0% in the 2nd quarter. AGF Management Ltd. now owns 1,354,413 shares of the utilities provider's stock worth $43,842,000 after buying an additional 1,328,042 shares during the last quarter. LPL Financial LLC boosted its stake in shares of BCE by 3.6% in the 2nd quarter. LPL Financial LLC now owns 1,191,208 shares of the utilities provider's stock valued at $38,559,000 after purchasing an additional 41,655 shares in the last quarter. Forsta AP Fonden grew its holdings in shares of BCE by 3.2% during the 2nd quarter. Forsta AP Fonden now owns 145,800 shares of the utilities provider's stock valued at $4,721,000 after purchasing an additional 4,500 shares during the last quarter. Vest Financial LLC raised its position in BCE by 36.0% in the 2nd quarter. Vest Financial LLC now owns 15,349 shares of the utilities provider's stock worth $497,000 after purchasing an additional 4,067 shares during the period. Finally, Federated Hermes Inc. lifted its stake in BCE by 5.5% in the second quarter. Federated Hermes Inc. now owns 3,564,393 shares of the utilities provider's stock worth $115,379,000 after purchasing an additional 186,659 shares during the last quarter. 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.