BCE (NYSE:BCE) Hits New 1-Year Low – Time to Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE) 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 changing hands. The stock had previously closed at $22.66.

Analysts Set New Price Targets

A number of brokerages recently commented on BCE. Barclays lowered their price target on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a 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. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, BCE currently has an average rating of “Hold” and a consensus target price of $45.00.

BCE Stock Performance

The firm has a 50 day moving average of $27.48 and a 200-day moving average of $31.61. The company has a market cap of $20.35 billion, a P/E ratio of 318.71, a PEG ratio of 4.04 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.

BCE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 13.21%. BCE’s dividend payout ratio is presently 4,214.29%.

Institutional Trading of BCE

A number of hedge funds have recently added to or reduced their stakes in BCE. AE Wealth Management LLC raised its holdings in shares of BCE by 2.6% in the 2nd quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 367 shares in the last quarter. Caldwell Sutter Capital Inc. raised its stake in BCE by 3.9% in the third quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock worth $413,000 after buying an additional 445 shares in the last quarter. First Affirmative Financial Network lifted its holdings in BCE by 6.1% during the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock worth $285,000 after buying an additional 472 shares during the period. Prospera Financial Services Inc boosted its position in BCE by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 478 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of BCE by 6.8% in the 3rd quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock valued at $324,000 after acquiring an additional 596 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.

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.