Wellington Management Group LLP Has $443,000 Holdings in BCE Inc. (NYSE:BCE)

Wellington Management Group LLP raised its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 97.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 12,725 shares of the utilities provider’s stock after purchasing an additional 6,267 shares during the period. Wellington Management Group LLP’s holdings in BCE were worth $443,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. &PARTNERS acquired a new position in BCE in the second quarter valued at $298,000. Cypress Capital Group lifted its stake in shares of BCE by 21.8% in the 2nd quarter. Cypress Capital Group now owns 8,924 shares of the utilities provider’s stock valued at $289,000 after purchasing an additional 1,595 shares during the period. K.J. Harrison & Partners Inc boosted its position in shares of BCE by 133.1% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 157,825 shares of the utilities provider’s stock valued at $5,109,000 after purchasing an additional 90,128 shares in the last quarter. Tobam grew its stake in BCE by 64.8% during the second quarter. Tobam now owns 21,030 shares of the utilities provider’s stock worth $681,000 after purchasing an additional 8,266 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in BCE by 9.6% during the second quarter. Crossmark Global Holdings Inc. now owns 109,811 shares of the utilities provider’s stock worth $3,555,000 after purchasing an additional 9,609 shares during the period. 41.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BCE has been the topic of a number of research analyst reports. Edward Jones cut 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 set an “underweight” rating on the stock. BMO Capital Markets raised their price target on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Barclays reduced their target price on BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

BCE Price Performance

Shares of NYSE BCE opened at $23.16 on Friday. The stock has a market cap of $21.13 billion, a price-to-earnings ratio of 330.86, a PEG ratio of 4.04 and a beta of 0.54. 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 Inc. has a fifty-two week low of $22.90 and a fifty-two week high of $41.77. The firm’s 50-day simple moving average is $28.53 and its 200 day simple moving average is $32.04.

BCE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.73%. The ex-dividend date is Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is currently 4,214.29%.

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.