Entropy Technologies LP Makes New Investment in BCE Inc. (NYSE:BCE)

Entropy Technologies LP bought a new stake in BCE Inc. (NYSE:BCE) (TSE:BCE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 53,899 shares of the utilities provider’s stock, valued at approximately $1,876,000.

Other hedge funds have also made changes to their positions in the company. ESL Trust Services LLC purchased a new position in BCE during the first quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of BCE by 3,480.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock valued at $35,000 after buying an additional 1,044 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 675 shares in the last quarter. Brown Lisle Cummings Inc. increased its stake in shares of BCE by 60.0% in the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 600 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its position in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 1,268 shares during the last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Trading Down 0.6 %

Shares of BCE stock opened at $27.69 on Wednesday. BCE Inc. has a 12 month low of $27.11 and a 12 month high of $41.77. The company has a market cap of $25.26 billion, a PE ratio of 395.57, a price-to-earnings-growth ratio of 4.26 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 2.00. The business’s 50 day moving average is $33.46 and its two-hundred day moving average is $33.54.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 annualized dividend and a yield of 10.65%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is 4,228.57%.

Analyst Ratings Changes

BCE has been the topic of several research reports. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Cibc World Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. BMO Capital Markets increased their price target on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, September 19th. Finally, Barclays reduced their price objective on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BCE currently has an average rating of “Hold” and a consensus target price of $45.00.

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.