Clearbridge Investments LLC Increases Stock Position in BCE Inc. (NYSE:BCE)

Clearbridge Investments LLC increased its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 20.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,263,813 shares of the utilities provider’s stock after purchasing an additional 546,777 shares during the quarter. Clearbridge Investments LLC owned approximately 0.36% of BCE worth $75,655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in shares of BCE by 217.6% in the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 790 shares in the last quarter. Blue Trust Inc. boosted its position in BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,285 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in BCE in the 3rd quarter valued at $65,000. MassMutual Private Wealth & Trust FSB increased its position in shares of BCE by 67.6% during 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. Finally, Vision Financial Markets LLC bought a new stake in BCE in the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 41.46% of the company’s stock.

BCE Stock Performance

Shares of BCE opened at $22.96 on Tuesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a market capitalization of $21.16 billion, a price-to-earnings ratio of 191.29, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57. BCE Inc. has a 52-week low of $21.87 and a 52-week high of $36.17. The stock’s 50-day simple moving average is $23.59 and its 200 day simple moving average is $26.86.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share (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%. Research analysts forecast that BCE Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.6965 per share. The ex-dividend date is Friday, March 14th. This represents a $2.79 dividend on an annualized basis and a dividend yield of 12.14%. BCE’s dividend payout ratio (DPR) is currently 2,291.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BCE shares. Morgan Stanley assumed coverage on shares of BCE in a research report on Monday, December 16th. They set an “underweight” rating for the company. Bank of America downgraded BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. National Bankshares reaffirmed a “sector perform” rating on shares of BCE in a research report on Tuesday, March 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $39.00 price objective on shares of BCE in a report on Tuesday, February 25th. Finally, Barclays restated an “underweight” rating on shares of BCE in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.00.

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.