Hillsdale Investment Management Inc. Acquires 25,540 Shares of BCE Inc. (NYSE:BCE)

Hillsdale Investment Management Inc. boosted its stake in BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 63.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,590 shares of the utilities provider’s stock after acquiring an additional 25,540 shares during the period. Hillsdale Investment Management Inc.’s holdings in BCE were worth $2,584,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its position in shares of BCE by 239.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 707 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 499 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of BCE by 120,000.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,201 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 1,200 shares in the last quarter. JCIC Asset Management Inc. lifted its position in BCE by 26.5% during the 4th quarter. JCIC Asset Management Inc. now owns 1,189 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 249 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in BCE by 147.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,744 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Tucker Asset Management LLC grew its holdings in BCE by 35.7% in the third quarter. Tucker Asset Management LLC now owns 2,413 shares of the utilities provider’s stock worth $92,000 after purchasing an additional 635 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BCE. Barclays lowered their target price on shares of BCE from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. BMO Capital Markets reissued a “market perform” rating and issued a $46.00 target price (down from $54.00) on shares of BCE in a report on Tuesday, April 2nd. JPMorgan Chase & Co. reduced their price target on BCE from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, February 9th. CIBC upgraded shares of BCE from a “neutral” rating to a “sector outperform” rating in a research note on Tuesday, April 23rd. Finally, TD Securities lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, BCE currently has a consensus rating of “Hold” and a consensus price target of $49.00.

Read Our Latest Stock Report on BCE

BCE Stock Performance

Shares of NYSE BCE traded down $0.40 during trading on Monday, reaching $33.94. 493,815 shares of the company traded hands, compared to its average volume of 2,428,118. The firm has a 50 day simple moving average of $33.57 and a 200-day simple moving average of $37.26. BCE Inc. has a 52-week low of $31.82 and a 52-week high of $46.95. The stock has a market capitalization of $30.96 billion, a PE ratio of 23.57, a P/E/G ratio of 4.66 and a beta of 0.55. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.87.

BCE Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a $0.738 dividend. This represents a $2.95 annualized dividend and a yield of 8.70%. The ex-dividend date of this dividend is Friday, June 14th. BCE’s dividend payout ratio is currently 202.08%.

About BCE

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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