Summit Securities Group LLC Has $192,000 Stock Position in BCE Inc. (NYSE:BCE)

Summit Securities Group LLC increased its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 56.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,300 shares of the utilities provider’s stock after buying an additional 3,000 shares during the quarter. Summit Securities Group LLC’s holdings in BCE were worth $192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased 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 worth $27,000 after acquiring an additional 790 shares in the last quarter. Blue Trust Inc. grew its position in shares of BCE by 1,147.3% in the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 1,285 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in BCE by 67.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 799 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in BCE during the 4th quarter worth approximately $49,000. Finally, Flagship Wealth Advisors LLC bought a new position in BCE in the fourth quarter valued at approximately $59,000. 41.46% of the stock is currently owned by institutional investors.

BCE Price Performance

NYSE:BCE opened at $22.96 on Friday. The stock has a market capitalization of $21.16 billion, a PE ratio of 191.29, a P/E/G ratio of 4.13 and a beta of 0.57. BCE Inc. has a 1-year low of $21.87 and a 1-year high of $36.17. The firm has a fifty day simple moving average of $23.59 and a 200 day simple moving average of $27.01. 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 (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, beating 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, research analysts expect that BCE Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.6965 dividend. 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 payout ratio is 2,291.67%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BCE shares. Barclays reissued an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Morgan Stanley started coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. National Bankshares restated a “sector perform” rating on shares of BCE in a report on Tuesday, March 11th. JPMorgan Chase & Co. lowered BCE from a “neutral” rating to an “underweight” rating in a research report on Friday, February 7th. Finally, Bank of America downgraded BCE from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, BCE currently has an average rating of “Hold” and a consensus price target of $40.00.

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.