Tobam Has $1.67 Million Stock Holdings in BCE Inc. (NYSE:BCE)

Tobam boosted its stake in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 198.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,971 shares of the utilities provider's stock after acquiring an additional 47,816 shares during the period. Tobam's holdings in BCE were worth $1,668,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BCE. National Bank of Canada FI raised its holdings in shares of BCE by 4.8% during the third quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider's stock worth $656,421,000 after purchasing an additional 864,472 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of BCE by 25.3% in the third quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider's stock valued at $127,282,000 after buying an additional 738,656 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of BCE by 48.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider's stock worth $123,877,000 after purchasing an additional 1,166,800 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of BCE by 130.1% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 293,427 shares of the utilities provider's stock valued at $10,200,000 after acquiring an additional 165,881 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of BCE by 78.5% in the 3rd quarter. Barclays PLC now owns 120,462 shares of the utilities provider's stock valued at $4,192,000 after purchasing an additional 52,966 shares during the period. Institutional investors own 41.46% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BCE. Barclays reissued an "underweight" rating on shares of BCE in a research note on Tuesday, January 21st. Canaccord Genuity Group lowered BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Morgan Stanley began coverage on BCE in a report on Monday, December 16th. They issued an "underweight" rating for the company. Canaccord Genuity Group reaffirmed a "hold" rating on shares of BCE in a report on Tuesday, November 5th. Finally, Bank of America cut shares of BCE from a "neutral" rating to an "underperform" rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.50.

BCE Trading Up 1.7 %

Shares of NYSE:BCE traded up $0.38 during midday trading on Monday, hitting $22.52. The company had a trading volume of 2,691,432 shares, compared to its average volume of 3,678,175. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. BCE Inc. has a 12 month low of $21.87 and a 12 month high of $38.21. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 187.63, a PEG ratio of 3.91 and a beta of 0.57. The firm has a fifty day simple moving average of $24.01 and a 200 day simple moving average of $29.69.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share 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%. On average, analysts predict that BCE Inc. will post 2 EPS for the current year.

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.6965 per share. This represents a $2.79 dividend on an annualized basis and a yield of 12.37%. The ex-dividend date of this dividend is Friday, March 14th. BCE's dividend payout ratio (DPR) is presently 2,350.00%.

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.