BCE (NYSE:BCE) Hits New 12-Month Low - What's Next?

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BMO Capital Markets upped their price target on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research note on Thursday, September 19th. National Bank Financial cut shares of BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Canaccord Genuity Group reiterated a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. Canaccord Genuity Group downgraded shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Finally, Barclays reduced 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. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $45.00.

BCE Stock Performance

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 business has a 50-day moving average of $30.17 and a 200-day moving average of $32.60. The company has a market capitalization of $24.15 billion, a P/E ratio of 378.00, a P/E/G ratio of 4.17 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 given a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a dividend yield of 11.14%. The ex-dividend date is Monday, December 16th. This is a positive change from BCE's previous quarterly dividend of $0.73. BCE's payout ratio is 4,214.29%.

Institutional Investors Weigh In On BCE

Several hedge funds and other institutional investors have recently modified their holdings of BCE. DGS Capital Management LLC grew its holdings in shares of BCE by 55.9% in the third quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider's stock worth $447,000 after purchasing an additional 4,605 shares during the last quarter. Logan Capital Management Inc. grew its stake in BCE by 4.5% in the 3rd quarter. Logan Capital Management Inc. now owns 103,643 shares of the utilities provider's stock worth $3,607,000 after acquiring an additional 4,438 shares in the last quarter. Old North State Trust LLC increased its position in shares of BCE by 25.2% during the third quarter. Old North State Trust LLC now owns 7,786 shares of the utilities provider's stock worth $271,000 after acquiring an additional 1,566 shares during the period. Tidal Investments LLC increased its position in shares of BCE by 138.1% during the third quarter. Tidal Investments LLC now owns 14,884 shares of the utilities provider's stock worth $518,000 after acquiring an additional 8,633 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of BCE during the third quarter valued at approximately $137,000. 41.46% of the stock is currently owned by hedge funds and other 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.