Griffin Asset Management Inc. Makes New $302,000 Investment in BCE Inc. (NYSE:BCE)

Griffin Asset Management Inc. purchased a new position in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,047 shares of the utilities provider's stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 1,285 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of BCE by 121.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock worth $43,000 after acquiring an additional 675 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of BCE by 67.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 799 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in BCE in the third quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC boosted its stake in BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock valued at $58,000 after purchasing an additional 1,268 shares in the last quarter. Institutional investors and hedge funds own 41.46% of the company's stock.

BCE Stock Performance

Shares of NYSE:BCE traded down $0.07 during trading on Friday, hitting $23.83. 2,992,335 shares of the stock were exchanged, compared to its average volume of 3,015,249. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of 340.43, a price-to-earnings-growth ratio of 3.92 and a beta of 0.56. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. BCE Inc. has a 1-year low of $21.87 and a 1-year high of $40.99. The company's fifty day simple moving average is $24.32 and its 200-day simple moving average is $30.06.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $0.737 dividend. This represents a $2.95 annualized dividend and a yield of 12.37%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from BCE's previous quarterly dividend of $0.73. BCE's payout ratio is 4,028.57%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Canaccord Genuity Group lowered BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Bank of America lowered shares of BCE from a "neutral" rating to an "underperform" rating in a research note on Tuesday, January 14th. Edward Jones cut BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. Finally, Barclays reaffirmed an "underweight" rating on shares of BCE in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $45.00.

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.