Edgemoor Investment Advisors Inc. Lowers Position in BCE Inc. (NYSE:BCE)

Edgemoor Investment Advisors Inc. decreased its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,079 shares of the utilities provider’s stock after selling 15,214 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in BCE were worth $2,297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted 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 holdings in shares of BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 1,285 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of BCE by 67.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 799 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in shares of BCE in the fourth quarter valued at about $49,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of BCE in the third quarter valued at about $51,000. Hedge funds and other institutional investors own 41.46% of the company’s stock.

BCE Stock Performance

Shares of BCE opened at $23.45 on Monday. 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 cap of $21.61 billion, a P/E ratio of 195.38, a PEG ratio of 4.13 and a beta of 0.57. The company has a 50-day moving average of $23.64 and a two-hundred day moving average of $27.82. BCE Inc. has a 12-month low of $21.87 and a 12-month high of $36.17.

BCE (NYSE:BCE) (TSE:BCE) last announced its 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%. As a group, research analysts predict that BCE Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The company 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. This represents a $2.79 dividend on an annualized basis and a dividend yield of 11.88%. The ex-dividend date of this dividend is Friday, March 14th. BCE’s dividend payout ratio is presently 2,291.67%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America cut shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Morgan Stanley assumed coverage on shares of BCE in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $39.00 price objective on shares of BCE in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut shares of BCE from a “neutral” rating to an “underweight” rating in a research note on Friday, February 7th. Finally, National Bankshares reiterated a “sector perform” rating on shares of BCE in a research note on Tuesday, March 11th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, BCE has an average rating of “Hold” and an average price target of $40.00.

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.