Sequoia Financial Advisors LLC increased its stake in BCE Inc. (NYSE:BCE – Free Report) (TSE:BCE) by 27.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,288 shares of the utilities provider’s stock after buying an additional 2,013 shares during the period. Sequoia Financial Advisors LLC’s holdings in BCE were worth $215,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of BCE. Amundi lifted its stake in shares of BCE by 7.5% in the 4th quarter. Amundi now owns 911,231 shares of the utilities provider’s stock valued at $21,532,000 after purchasing an additional 63,763 shares during the period. Lindbrook Capital LLC lifted its position in BCE by 93.6% during the fourth quarter. Lindbrook Capital LLC now owns 3,213 shares of the utilities provider’s stock valued at $74,000 after buying an additional 1,553 shares during the period. Raymond James Financial Inc. bought a new stake in shares of BCE during the 4th quarter valued at $8,233,000. Vision Financial Markets LLC purchased a new stake in shares of BCE in the 4th quarter worth about $49,000. Finally, Aigen Investment Management LP bought a new position in shares of BCE in the 4th quarter worth about $1,239,000. 41.46% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on BCE. JPMorgan Chase & Co. cut shares of BCE from a “neutral” rating to an “underweight” rating in a report on Friday, February 7th. Morgan Stanley assumed coverage on BCE in a research report on Monday, December 16th. They set an “underweight” rating for the company. Bank of America downgraded BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Barclays restated an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Finally, National Bankshares reiterated a “sector perform” rating on shares of BCE in a research note on Tuesday, March 11th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.00.
Read Our Latest Report on BCE
BCE Stock Down 1.4 %
NYSE:BCE opened at $23.04 on Friday. BCE Inc. has a 1-year low of $21.87 and a 1-year high of $36.17. 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 firm has a market cap of $21.23 billion, a PE ratio of 191.96, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57. The company has a 50-day moving average of $23.61 and a 200 day moving average of $27.60.
BCE (NYSE:BCE – Get Free Report) (TSE:BCE) last posted its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. As a group, research analysts anticipate that BCE Inc. will post 1.94 EPS for the current fiscal year.
BCE Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.6965 dividend. This represents a $2.79 annualized dividend and a dividend yield of 12.09%. The ex-dividend date is Friday, March 14th. BCE’s dividend payout ratio (DPR) is currently 2,291.67%.
BCE Company Profile
(Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BCE Inc. (NYSE:BCE – Free Report) (TSE:BCE).
Receive News & Ratings for BCE Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for BCE and related companies with MarketBeat.com’s FREE daily email newsletter.
