Jones Financial Companies Lllp Grows Stake in BCE Inc. (NYSE:BCE)

Jones Financial Companies Lllp raised its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 27.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,383 shares of the utilities provider’s stock after purchasing an additional 59,795 shares during the period. Jones Financial Companies Lllp’s holdings in BCE were worth $6,453,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Prospera Financial Services Inc grew its stake in shares of BCE by 6.8% during the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 478 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in BCE by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock worth $1,006,000 after purchasing an additional 520 shares in the last quarter. FMR LLC grew its position in BCE by 6.8% during the 3rd quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock worth $324,000 after purchasing an additional 596 shares during the last quarter. D.A. Davidson & CO. increased its stake in BCE by 3.0% during the 4th quarter. D.A. Davidson & CO. now owns 23,835 shares of the utilities provider’s stock valued at $552,000 after purchasing an additional 691 shares in the last quarter. Finally, State Street Corp increased its stake in BCE by 0.5% during the 3rd quarter. State Street Corp now owns 148,741 shares of the utilities provider’s stock valued at $5,286,000 after purchasing an additional 749 shares in the last quarter. 41.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BCE has been the topic of a number of research analyst reports. Morgan Stanley began coverage on shares of BCE in a report on Monday, December 16th. They set an “underweight” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price target on shares of BCE in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut BCE from a “neutral” rating to an “underweight” rating in a research note on Friday, February 7th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.00.

BCE Stock Up 1.1 %

Shares of BCE opened at $23.37 on Tuesday. The stock’s 50-day moving average price is $23.41 and its 200-day moving average price is $28.48. 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 company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 194.75, a PEG ratio of 4.13 and a beta of 0.57. BCE Inc. has a 52 week low of $21.87 and a 52 week high of $36.94.

BCE (NYSE:BCE) (TSE:BCE) last released 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, sell-side analysts predict that BCE Inc. will post 1.94 EPS for the current year.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.6965 per share. The ex-dividend date is Friday, March 14th. This represents a $2.79 annualized dividend and a yield of 11.92%. BCE’s dividend payout ratio is presently 2,283.33%.

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.