Allworth Financial LP Grows Stake in BCE Inc. (NYSE:BCE)

Allworth Financial LP raised its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 217.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,153 shares of the utilities provider’s stock after acquiring an additional 790 shares during the period. Allworth Financial LP’s holdings in BCE were worth $27,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC boosted its position in shares of BCE by 3,355.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,852,025 shares of the utilities provider’s stock valued at $64,450,000 after buying an additional 1,798,427 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BCE by 48.7% during 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 during the last quarter. National Bank of Canada FI boosted its position in shares of BCE by 4.8% during the third 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 last quarter. SG Americas Securities LLC purchased a new stake in shares of BCE during the fourth quarter valued at $17,271,000. Finally, JPMorgan Chase & Co. boosted its position in shares of BCE by 25.3% during 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 during the last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Stock Down 2.2 %

NYSE BCE opened at $23.39 on Thursday. The stock’s 50-day moving average price is $23.39 and its 200-day moving average price is $28.76. 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 Inc. has a 52 week low of $21.87 and a 52 week high of $37.47. The company has a market capitalization of $21.56 billion, a P/E ratio of 194.89, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57.

BCE (NYSE:BCE) (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 return on equity of 17.89% and a net margin of 0.99%. On average, equities research analysts predict that BCE Inc. will post 1.94 earnings per share for the current year.

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.6965 dividend. This represents a $2.79 annualized dividend and a dividend yield of 11.91%. The ex-dividend date of this dividend is Friday, March 14th. BCE’s dividend payout ratio (DPR) is currently 2,350.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on BCE. Morgan Stanley began coverage on BCE in a research report on Monday, December 16th. They set an “underweight” rating on the stock. Barclays reissued an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Edward Jones downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Bank of America downgraded BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $39.00 target price on shares of BCE in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.00.

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.