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

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE's share price fell 1.3% on Tuesday . The company traded as low as $23.41 and last traded at $23.54. 1,196,637 shares were traded during mid-day trading, a decline of 52% from the average session volume of 2,494,548 shares. The stock had previously closed at $23.86.

Wall Street Analyst Weigh In

A number of analysts have commented on BCE shares. Canaccord Genuity Group lowered BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. National Bank Financial cut BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Canaccord Genuity Group restated a "hold" rating on shares of BCE in a research report on Tuesday, November 5th. Morgan Stanley started coverage on shares of BCE in a report on Monday. They set an "underweight" rating for the company. Finally, Edward Jones cut shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. One research 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 company. According to data from MarketBeat, BCE currently has a consensus rating of "Hold" and an average price target of $45.00.

BCE Price Performance

The firm's 50 day moving average price is $29.12 and its two-hundred day moving average price is $32.25. 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 stock has a market cap of $21.53 billion, a PE ratio of 337.07, a P/E/G 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. Shareholders 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. The ex-dividend date is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a yield of 12.49%. BCE's payout ratio is presently 4,214.29%.

Institutional Trading of BCE

A number of institutional investors have recently added to or reduced their stakes in BCE. Caldwell Sutter Capital Inc. grew its position in BCE by 9.8% during the second quarter. Caldwell Sutter Capital Inc. now owns 11,411 shares of the utilities provider's stock worth $369,000 after buying an additional 1,018 shares in the last quarter. &PARTNERS purchased a new stake in BCE in the second quarter valued at approximately $298,000. Cypress Capital Group lifted its position in BCE by 21.8% during the second quarter. Cypress Capital Group now owns 8,924 shares of the utilities provider's stock valued at $289,000 after purchasing an additional 1,595 shares during the last quarter. K.J. Harrison & Partners Inc grew its stake in BCE by 133.1% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 157,825 shares of the utilities provider's stock worth $5,109,000 after buying an additional 90,128 shares in the last quarter. Finally, Tobam boosted its stake in BCE by 64.8% in the second quarter. Tobam now owns 21,030 shares of the utilities provider's stock worth $681,000 after buying an additional 8,266 shares in the last quarter. Hedge funds and other 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.