US Bancorp DE Has $1.21 Million Stock Holdings in BCE Inc. (NYSE:BCE)

US Bancorp DE increased its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 154.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,027 shares of the utilities provider’s stock after acquiring an additional 31,607 shares during the period. US Bancorp DE’s holdings in BCE were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Davis Rea LTD. bought a new position in BCE in the 4th quarter valued at approximately $4,774,000. Lincluden Management Ltd. lifted its stake in BCE by 17.3% in the 4th quarter. Lincluden Management Ltd. now owns 1,615,956 shares of the utilities provider’s stock valued at $37,457,000 after purchasing an additional 237,903 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in BCE in the 4th quarter valued at approximately $104,000. Atria Wealth Solutions Inc. lifted its stake in BCE by 18.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 18,401 shares of the utilities provider’s stock valued at $439,000 after purchasing an additional 2,863 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in BCE by 3.0% in the 4th quarter. D.A. Davidson & CO. now owns 23,835 shares of the utilities provider’s stock valued at $552,000 after purchasing an additional 691 shares during the last quarter. Institutional investors own 41.46% of the company’s stock.

BCE Trading Up 1.2 %

NYSE:BCE opened at $24.78 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $22.85 billion, a price-to-earnings ratio of 206.53, a PEG ratio of 4.13 and a beta of 0.57. The firm has a fifty day simple moving average of $23.51 and a two-hundred day simple moving average of $28.24. BCE Inc. has a 12 month low of $21.87 and a 12 month high of $36.94.

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

BCE Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.6965 dividend. This represents a $2.79 dividend on an annualized basis and a yield of 11.24%. The ex-dividend date is Friday, March 14th. BCE’s payout ratio is 2,291.67%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays reissued an “underweight” rating on shares of BCE in a research note on Tuesday, January 21st. Morgan Stanley began coverage on shares of BCE in a research note on Monday, December 16th. They set an “underweight” rating for the company. JPMorgan Chase & Co. downgraded shares of BCE from a “neutral” rating to an “underweight” rating in a research note on Friday, February 7th. Bank of America downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $39.00 price target on shares of BCE in a research note on Tuesday, February 25th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, BCE currently has a consensus rating of “Hold” and a consensus price target 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.