BCE (NYSE:BCE) Shares Down 1.2% – Time to Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares were down 1.2% on Wednesday . The company traded as low as $26.12 and last traded at $26.15. Approximately 997,938 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 2,442,562 shares. The stock had previously closed at $26.46.

Wall Street Analyst Weigh In

BCE has been the subject of several research reports. Barclays cut their price target on BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, BMO Capital Markets boosted 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. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, BCE presently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Stock Down 1.1 %

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 market cap of $23.28 billion, a price-to-earnings ratio of 362.29, a PEG ratio of 4.04 and a beta of 0.54. The firm’s 50 day simple moving average is $29.67 and its two-hundred day simple moving average is $32.46.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 11.55%. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE’s payout ratio is presently 4,214.29%.

Hedge Funds Weigh In On BCE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCE. CWM LLC lifted its position in BCE by 138.5% during the second quarter. CWM LLC now owns 7,358 shares of the utilities provider’s stock worth $238,000 after purchasing an additional 4,273 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in shares of BCE in the 2nd quarter valued at approximately $231,000. ORG Partners LLC acquired a new position in shares of BCE in the 2nd quarter valued at approximately $147,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of BCE by 1.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 103,149 shares of the utilities provider’s stock worth $3,340,000 after acquiring an additional 1,448 shares in the last quarter. Finally, CFM Wealth Partners LLC boosted its position in shares of BCE by 22.5% during the 2nd quarter. CFM Wealth Partners LLC now owns 7,436 shares of the utilities provider’s stock worth $241,000 after acquiring an additional 1,364 shares in the last quarter. 41.46% of the stock is 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.