Entropy Technologies LP Takes $1.88 Million Position in BCE Inc. (NYSE:BCE)

Entropy Technologies LP purchased a new position in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 53,899 shares of the utilities provider's stock, valued at approximately $1,876,000.

A number of other hedge funds have also bought and sold shares of the company. Atria Investments Inc grew its position in shares of BCE by 4.4% in the 3rd quarter. Atria Investments Inc now owns 76,161 shares of the utilities provider's stock worth $2,650,000 after acquiring an additional 3,208 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in BCE by 3.4% in the third quarter. Verdence Capital Advisors LLC now owns 35,239 shares of the utilities provider's stock worth $1,226,000 after purchasing an additional 1,149 shares during the period. Executive Wealth Management LLC bought a new stake in BCE during the third quarter valued at $398,000. Fiera Capital Corp increased its stake in BCE by 24.6% during the third quarter. Fiera Capital Corp now owns 262,088 shares of the utilities provider's stock valued at $9,124,000 after purchasing an additional 51,661 shares during the last quarter. Finally, Gold Investment Management Ltd. raised its holdings in shares of BCE by 3.6% during the third quarter. Gold Investment Management Ltd. now owns 105,149 shares of the utilities provider's stock worth $3,664,000 after purchasing an additional 3,646 shares during the period. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Stock Performance

BCE stock traded down $0.44 during mid-day trading on Wednesday, hitting $27.25. 2,372,739 shares of the company's stock traded hands, compared to its average volume of 2,296,883. BCE Inc. has a one year low of $27.11 and a one year high of $41.77. The company has a market cap of $24.86 billion, a PE ratio of 388.57, a price-to-earnings-growth ratio of 4.28 and a beta of 0.59. The firm has a 50 day moving average price of $33.31 and a 200 day moving average price of $33.51. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 annualized dividend and a yield of 10.82%. BCE's dividend payout ratio (DPR) is presently 4,228.57%.

Analyst Ratings Changes

BCE has been the subject of several research reports. Canaccord Genuity Group lowered shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Cibc World Mkts raised BCE from a "hold" rating to a "strong-buy" rating in a report on Friday, August 2nd. BMO Capital Markets raised their price target on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a report on Thursday, September 19th. Canaccord Genuity Group restated a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. Finally, Edward Jones cut BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average 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.