BCE (NYSE:BCE) Stock Price Down 4.6% - Time to Sell?

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE shares were down 4.6% during mid-day trading on Tuesday . The company traded as low as $22.02 and last traded at $22.14. Approximately 1,233,019 shares were traded during trading, a decline of 59% from the average daily volume of 3,020,947 shares. The stock had previously closed at $23.21.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America cut BCE from a "neutral" rating to an "underperform" rating in a research report on Tuesday. Canaccord Genuity Group lowered shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Barclays reduced their price objective on shares of BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Morgan Stanley assumed coverage on shares of BCE in a research note on Monday, December 16th. They issued an "underweight" rating on the stock. Finally, BMO Capital Markets raised their price target on shares of BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research note on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $45.00.

BCE Price Performance

The company's 50 day simple moving average is $25.36 and its two-hundred day simple moving average is $30.81. 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 capitalization of $20.58 billion, a P/E ratio of 322.29, a PEG ratio of 4.04 and a beta of 0.56.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend on an annualized basis and a yield of 13.07%. BCE's dividend payout ratio is 4,028.57%.

Hedge Funds Weigh In On BCE

Several institutional investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC increased its stake in shares of BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock valued at $43,000 after buying an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of BCE in the third quarter worth about $51,000. Bruce G. Allen Investments LLC raised its stake in shares of BCE by 321.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock worth $58,000 after acquiring an additional 1,268 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of BCE during the third quarter worth approximately $65,000. Finally, Fairscale Capital LLC bought a new stake in shares of BCE during the second quarter valued at approximately $76,000. 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.