BCE Inc. (NYSE:BCE) Position Boosted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 130.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 293,427 shares of the utilities provider's stock after purchasing an additional 165,881 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in BCE were worth $10,200,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Verition Fund Management LLC raised its holdings in shares of BCE by 372.8% in the 3rd quarter. Verition Fund Management LLC now owns 71,915 shares of the utilities provider's stock worth $2,503,000 after purchasing an additional 56,706 shares during the period. Northwest & Ethical Investments L.P. increased its position in BCE by 4.9% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 235,753 shares of the utilities provider's stock worth $8,197,000 after purchasing an additional 10,959 shares in the last quarter. PEAK6 Investments LLC raised its holdings in BCE by 142.6% in the third quarter. PEAK6 Investments LLC now owns 97,284 shares of the utilities provider's stock valued at $3,385,000 after buying an additional 57,184 shares during the period. Blueshift Asset Management LLC acquired a new position in BCE during the third quarter valued at approximately $209,000. Finally, Townsquare Capital LLC lifted its position in BCE by 13.2% during the third quarter. Townsquare Capital LLC now owns 14,159 shares of the utilities provider's stock valued at $493,000 after buying an additional 1,647 shares in the last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Stock Up 0.1 %

Shares of NYSE:BCE traded up $0.02 during trading on Monday, hitting $27.05. The company's stock had a trading volume of 3,823,124 shares, compared to its average volume of 2,399,251. BCE Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $41.77. The stock's 50-day moving average price is $31.13 and its two-hundred day moving average price is $32.90. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The company has a market capitalization of $24.68 billion, a PE ratio of 386.29, a PEG ratio of 4.20 and a beta of 0.59.

BCE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.737 per share. This is a boost from BCE's previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a dividend yield of 10.90%. The ex-dividend date of this dividend is Monday, December 16th. BCE's dividend payout ratio is 4,214.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Edward Jones downgraded shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. National Bank Financial lowered BCE from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th. BMO Capital Markets upped their target price on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research report on Thursday, September 19th. Canaccord Genuity Group reiterated a "hold" rating on shares of BCE in a report on Tuesday, November 5th. Finally, Barclays decreased their price target on BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $45.00.

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.