BCE (NYSE:BCE) Sets New 52-Week Low Following Analyst Downgrade

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE's share price reached a new 52-week low during trading on Tuesday after Barclays lowered their price target on the stock from $34.00 to $30.00. Barclays currently has an equal weight rating on the stock. BCE traded as low as $27.29 and last traded at $27.34, with a volume of 563687 shares traded. The stock had previously closed at $27.85.

Several other research analysts have also recently weighed in on the stock. Cibc World Mkts raised shares of BCE from a "hold" rating to a "strong-buy" rating in a report on Friday, August 2nd. BMO Capital Markets increased their price target on shares of BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a report on Thursday, September 19th. Edward Jones downgraded shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Canaccord Genuity Group downgraded BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group reissued a "hold" rating on shares of BCE in a report on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $45.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BCE. ESL Trust Services LLC bought a new position in shares of BCE during the first quarter valued at $31,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of BCE by 3,480.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider's stock worth $35,000 after buying an additional 1,044 shares during the last quarter. Hexagon Capital Partners LLC grew 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 acquiring an additional 675 shares during the period. Brown Lisle Cummings Inc. increased its position in BCE by 60.0% during the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 600 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its holdings in BCE by 321.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock valued at $58,000 after acquiring an additional 1,268 shares during the period. Institutional investors own 41.46% of the company's stock.

BCE Price Performance

The firm has a 50-day simple moving average of $33.46 and a 200-day simple moving average of $33.54. The firm has a market capitalization of $25.26 billion, a PE ratio of 387.57, a PEG ratio of 4.26 and a beta of 0.59. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.65 and a quick ratio of 0.62.

BCE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.737 dividend. 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 dividend yield of 10.65%. BCE's dividend payout ratio (DPR) is presently 4,228.57%.

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.