Quinn Opportunity Partners LLC Invests $4.40 Million in BCE Inc. (NYSE:BCE)

Quinn Opportunity Partners LLC acquired a new position in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 190,000 shares of the utilities provider's stock, valued at approximately $4,404,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BCE. Allworth Financial LP lifted its position in shares of BCE by 217.6% in the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 790 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after purchasing an additional 1,285 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of BCE by 67.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock worth $46,000 after buying an additional 799 shares in the last quarter. Vision Financial Markets LLC acquired a new position in shares of BCE in the fourth quarter valued at approximately $49,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of BCE during the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Stock Up 2.2 %

Shares of NYSE:BCE traded up $0.46 during mid-day trading on Wednesday, hitting $21.70. 1,301,925 shares of the company traded hands, compared to its average volume of 2,780,030. The firm has a market cap of $20.00 billion, a P/E ratio of 180.83, a PEG ratio of 4.13 and a beta of 0.56. BCE Inc. has a 52-week low of $20.28 and a 52-week high of $36.17. The firm's 50 day simple moving average is $23.01 and its 200 day simple moving average is $25.76. 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 (NYSE:BCE - Get Free Report) TSE: BCE last posted its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. On average, equities analysts anticipate that BCE Inc. will post 1.94 EPS for the current year.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $0.6965 per share. The ex-dividend date was Friday, March 14th. This represents a $2.79 annualized dividend and a yield of 12.84%. BCE's dividend payout ratio is presently 2,291.67%.

Wall Street Analyst Weigh In

BCE has been the subject of several analyst reports. National Bankshares reiterated a "sector perform" rating on shares of BCE in a report on Tuesday, March 11th. Barclays reissued an "underweight" rating on shares of BCE in a research note on Tuesday, January 21st. Royal Bank of Canada reissued a "sector perform" rating and issued a $39.00 target price on shares of BCE in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered shares of BCE from a "neutral" rating to an "underweight" rating in a report on Friday, February 7th. Finally, Bank of America lowered BCE from a "neutral" rating to an "underperform" rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, BCE currently has an average rating of "Hold" and an average target price of $40.00.

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.