Clearbridge Investments LLC Raises Stock Holdings in BCE Inc. (NYSE:BCE)

Clearbridge Investments LLC boosted its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 20.1% during the fourth quarter, HoldingsChannel reports. The firm owned 3,263,813 shares of the utilities provider’s stock after buying an additional 546,777 shares during the period. Clearbridge Investments LLC’s holdings in BCE were worth $75,655,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP increased its holdings in shares of BCE by 217.6% in the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock worth $27,000 after buying an additional 790 shares during the last quarter. Blue Trust Inc. increased its stake in BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 1,285 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in BCE during the third quarter valued at about $65,000. MassMutual Private Wealth & Trust FSB raised its position in BCE by 67.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 799 shares in the last quarter. Finally, Vision Financial Markets LLC bought a new stake in BCE during the fourth quarter worth about $49,000. 41.46% of the stock is currently owned by institutional investors.

BCE Trading Down 0.1 %

Shares of BCE opened at $22.96 on Tuesday. The stock has a market capitalization of $21.16 billion, a P/E ratio of 191.29, a PEG ratio of 4.13 and a beta of 0.57. BCE Inc. has a twelve month low of $21.87 and a twelve month high of $36.17. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The firm has a fifty day simple moving average of $23.59 and a two-hundred day simple moving average of $26.86.

BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. On average, research 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 will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.6965 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.79 dividend on an annualized basis and a dividend yield of 12.14%. BCE’s dividend payout ratio is currently 2,291.67%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays reiterated an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. National Bankshares reissued a “sector perform” rating on shares of BCE in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered shares of BCE from a “neutral” rating to an “underweight” rating in a report on Friday, February 7th. Bank of America lowered shares of BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley began coverage on shares of BCE in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.00.

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.