BCE Inc. (NYSE:BCE) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its stake in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,263,813 shares of the utilities provider's stock after acquiring an additional 546,777 shares during the period. Clearbridge Investments LLC owned 0.36% of BCE worth $75,655,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BCE. Allworth Financial LP increased its position in BCE by 217.6% during the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock worth $27,000 after purchasing an additional 790 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after buying an additional 1,285 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of BCE by 67.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock worth $46,000 after buying an additional 799 shares during the period. Vision Financial Markets LLC acquired a new position in BCE in the fourth quarter valued at $49,000. Finally, Flagship Wealth Advisors LLC acquired a new position in BCE in the fourth quarter valued at $59,000. 41.46% of the stock is owned by institutional investors and hedge funds.

BCE Stock Up 3.9 %

Shares of NYSE BCE traded up $0.85 during trading on Thursday, reaching $22.67. 4,575,645 shares of the stock were exchanged, compared to its average volume of 2,711,039. The company has a market capitalization of $20.89 billion, a price-to-earnings ratio of 188.88, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57. The business's 50-day moving average price is $23.55 and its 200 day moving average price is $26.74. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. BCE Inc. has a twelve month low of $21.62 and a twelve month high of $36.17.

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BCE (NYSE:BCE - Get Free Report) TSE: BCE last issued its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. As a group, equities analysts forecast that BCE Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.6965 dividend. This represents a $2.79 dividend on an annualized basis and a yield of 12.29%. The ex-dividend date of this dividend is Friday, March 14th. BCE's dividend payout ratio is currently 2,291.67%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BCE shares. Morgan Stanley assumed coverage on BCE in a report on Monday, December 16th. They issued an "underweight" rating on the stock. Bank of America lowered shares of BCE from a "neutral" rating to an "underperform" rating in a report on Tuesday, January 14th. National Bankshares reaffirmed a "sector perform" rating on shares of BCE in a research report on Tuesday, March 11th. Barclays reissued an "underweight" rating on shares of BCE in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lowered shares of BCE from a "neutral" rating to an "underweight" rating in a report on Friday, February 7th. Four equities 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $40.00.

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.