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

Griffin Asset Management Inc. acquired a new stake in BCE Inc. (NYSE:BCE) (TSE:BCE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,047 shares of the utilities provider’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BCE. Blue Trust Inc. raised its position in BCE by 1,147.3% during the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,285 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings 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 valued at $43,000 after purchasing an additional 675 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in BCE by 67.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 799 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in BCE during the third quarter worth about $51,000. Finally, Bruce G. Allen Investments LLC increased its position in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after buying an additional 1,268 shares during the last quarter. 41.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BCE has been the subject of a number of recent analyst reports. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Morgan Stanley initiated coverage on shares of BCE in a research report on Monday, December 16th. They set an “underweight” rating for the company. Bank of America lowered shares of BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.00.

BCE Stock Performance

Shares of NYSE:BCE opened at $23.91 on Wednesday. BCE Inc. has a 12-month low of $21.87 and a 12-month high of $41.15. The company’s 50 day moving average price is $24.57 and its two-hundred day moving average price is $30.27. The firm has a market cap of $21.81 billion, a PE ratio of 341.50, a PEG ratio of 3.83 and a beta of 0.56. 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 disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 12.33%. The ex-dividend date was Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is 4,028.57%.

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.