BCE (NYSE:BCE) Sets New 12-Month Low – Should You Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $22.18 and last traded at $22.30, with a volume of 479136 shares traded. The stock had previously closed at $22.66.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Morgan Stanley began coverage on shares of BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Barclays decreased their target price on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, BMO Capital Markets boosted their price target on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a report on Thursday, September 19th. One analyst has 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Down 1.5 %

The firm has a market capitalization of $20.35 billion, a PE ratio of 318.71, a P/E/G ratio of 4.04 and a beta of 0.54. 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 company has a 50-day moving average price of $27.48 and a 200 day moving average price of $31.61.

BCE Increases Dividend

The firm 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 $0.737 dividend. This represents a $2.95 annualized dividend and a yield of 13.21%. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is presently 4,214.29%.

Institutional Trading of BCE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC increased its holdings 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 worth $43,000 after purchasing an additional 675 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in BCE in the 3rd quarter worth approximately $51,000. Bruce G. Allen Investments LLC raised its holdings in shares of BCE by 321.0% during the 3rd 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 in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of BCE during the 3rd quarter valued at approximately $65,000. Finally, Fairscale Capital LLC purchased a new position in shares of BCE in the second quarter valued at $76,000. 41.46% of the stock is currently owned by institutional investors.

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.