BCE (NYSE:BCE) Reaches New 1-Year Low – Should You Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $26.13 and last traded at $26.18, with a volume of 523087 shares changing hands. The stock had previously closed at $26.90.

Analysts Set New Price Targets

Several analysts have commented on the company. Barclays dropped their price objective on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Finally, BMO Capital Markets raised their target price on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BCE has an average rating of “Hold” and a consensus price target of $45.00.

BCE Stock Performance

The stock has a market cap of $24.22 billion, a PE ratio of 376.86, a P/E/G ratio of 4.17 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The stock has a 50-day moving average of $30.17 and a 200 day moving average of $32.60.

BCE Increases Dividend

The business also recently disclosed 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. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 dividend on an annualized basis and a yield of 11.10%. BCE’s dividend payout ratio (DPR) is presently 4,214.29%.

Hedge Funds Weigh In On BCE

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in BCE by 138.5% in the second quarter. CWM LLC now owns 7,358 shares of the utilities provider’s stock valued at $238,000 after purchasing an additional 4,273 shares during the period. Dynamic Advisor Solutions LLC purchased a new stake in BCE in the second quarter valued at $231,000. ORG Partners LLC purchased a new stake in BCE in the second quarter valued at $147,000. Envestnet Portfolio Solutions Inc. raised its position in BCE by 1.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 103,149 shares of the utilities provider’s stock valued at $3,340,000 after purchasing an additional 1,448 shares during the period. Finally, Brown Lisle Cummings Inc. raised its position in BCE by 60.0% in the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 600 shares during the period. 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.