HighTower Advisors LLC Has $2.10 Million Holdings in BCE Inc. (NYSE:BCE)

HighTower Advisors LLC raised its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 9.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 60,123 shares of the utilities provider’s stock after purchasing an additional 4,970 shares during the period. HighTower Advisors LLC’s holdings in BCE were worth $2,096,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its holdings in BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after buying an additional 675 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of BCE during the 3rd quarter valued at about $51,000. Bruce G. Allen Investments LLC grew its stake in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 1,268 shares during the period. Fairscale Capital LLC bought a new stake in BCE in the second quarter worth approximately $76,000. Finally, Sumitomo Life Insurance Co. acquired a new position in BCE in the second quarter valued at approximately $195,000. 41.46% of the stock is owned by institutional investors.

BCE Trading Down 1.1 %

NYSE BCE opened at $25.52 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $23.28 billion, a P/E ratio of 364.57, a PEG ratio of 4.04 and a beta of 0.54. The business has a fifty day simple moving average of $29.51 and a 200 day simple moving average of $32.40. BCE Inc. has a 12 month low of $25.24 and a 12 month high of $41.77.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 11.55%. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is presently 4,214.29%.

Analysts Set New Price Targets

Several analysts have recently weighed in on BCE shares. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. BMO Capital Markets boosted their target price on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Barclays decreased their price objective on BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.00.

BCE 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.