BCE (NYSE:BCE) Hits New 52-Week Low - What's Next?

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE's share 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. The stock had previously closed at $22.66.

Analysts Set New Price Targets

A number of research firms have commented on BCE. Canaccord Genuity Group downgraded shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Morgan Stanley began coverage on shares of BCE in a research note on Monday, December 16th. They issued an "underweight" rating for the company. National Bank Financial cut BCE from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th. Barclays cut their price target 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, Canaccord Genuity Group restated a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, BCE currently has an average rating of "Hold" and an average target price of $45.00.

BCE Trading Down 0.6 %

The company has a 50 day moving average of $27.26 and a two-hundred day moving average of $31.53. The stock has a market capitalization of $20.55 billion, a PE ratio of 321.86, 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 quick ratio of 0.60 and a current ratio of 0.62.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.737 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 annualized dividend and a dividend yield of 13.08%. This is an increase from BCE's previous quarterly dividend of $0.73. BCE's dividend payout ratio is 4,214.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BCE. Hexagon Capital Partners LLC raised its stake in shares of BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock valued at $43,000 after buying an additional 675 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in BCE in the 3rd quarter valued at about $51,000. Bruce G. Allen Investments LLC lifted its stake in BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock valued at $58,000 after buying an additional 1,268 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in BCE in the 3rd quarter worth about $65,000. Finally, Fairscale Capital LLC purchased a new stake in BCE during the 2nd quarter worth approximately $76,000. 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.