Addenda Capital Inc. lifted its position in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 697,533 shares of the utilities provider's stock after acquiring an additional 39,115 shares during the quarter. Addenda Capital Inc. owned 0.08% of BCE worth $16,169,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in BCE. National Bank of Canada FI lifted its holdings in shares of BCE by 4.8% in the 3rd quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider's stock valued at $656,421,000 after buying an additional 864,472 shares during the period. JPMorgan Chase & Co. increased its holdings in BCE by 25.3% in the third quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider's stock valued at $127,282,000 after buying an additional 738,656 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in BCE by 48.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider's stock valued at $123,877,000 after buying an additional 1,166,800 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in BCE by 130.1% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 293,427 shares of the utilities provider's stock worth $10,200,000 after purchasing an additional 165,881 shares in the last quarter. Finally, Barclays PLC increased its position in shares of BCE by 78.5% in the third quarter. Barclays PLC now owns 120,462 shares of the utilities provider's stock valued at $4,192,000 after buying an additional 52,966 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Edward Jones lowered shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Bank of America lowered shares of BCE from a "neutral" rating to an "underperform" rating in a report on Tuesday, January 14th. Canaccord Genuity Group downgraded shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Canaccord Genuity Group restated a "hold" rating on shares of BCE in a research report on Tuesday, November 5th. Finally, Barclays restated an "underweight" rating on shares of BCE in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $45.00.
Check Out Our Latest Analysis on BCE
BCE Trading Up 1.1 %
Shares of BCE stock traded up $0.25 during trading hours on Tuesday, reaching $23.40. The stock had a trading volume of 3,917,273 shares, compared to its average volume of 3,594,931. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 334.29, a P/E/G ratio of 3.83 and a beta of 0.56. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. BCE Inc. has a 1 year low of $21.87 and a 1 year high of $41.77. The firm has a 50 day simple moving average of $24.94 and a two-hundred day simple moving average of $30.57.
BCE Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a dividend of $0.737 per share. This is a positive change from BCE's previous quarterly dividend of $0.73. The ex-dividend date was Monday, December 16th. This represents a $2.95 annualized dividend and a dividend yield of 12.60%. BCE's payout ratio is presently 4,028.57%.
About BCE
(
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.
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