Aviso Financial Inc. cut its stake in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 23.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,216 shares of the utilities provider's stock after selling 45,117 shares during the period. Aviso Financial Inc.'s holdings in BCE were worth $3,435,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI boosted its holdings in BCE by 4.8% in the 3rd quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider's stock valued at $656,421,000 after purchasing an additional 864,472 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in BCE by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,028,888 shares of the utilities provider's stock valued at $139,734,000 after buying an additional 168,704 shares during the period. JPMorgan Chase & Co. grew its position in BCE by 25.3% during the third quarter. JPMorgan Chase & Co. now owns 3,657,533 shares of the utilities provider's stock worth $127,282,000 after buying an additional 738,656 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in BCE by 48.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider's stock worth $123,877,000 after acquiring an additional 1,166,800 shares during the last quarter. Finally, Lincluden Management Ltd. boosted its position in shares of BCE by 17.3% during the 4th quarter. Lincluden Management Ltd. now owns 1,615,956 shares of the utilities provider's stock valued at $37,457,000 after acquiring an additional 237,903 shares during the last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.
BCE Trading Up 0.4 %
Shares of NYSE BCE traded up $0.10 during midday trading on Tuesday, hitting $23.80. 2,118,170 shares of the company traded hands, compared to its average volume of 2,711,486. BCE Inc. has a 12-month low of $21.87 and a 12-month high of $36.17. The firm has a market cap of $21.93 billion, a P/E ratio of 198.29, a P/E/G ratio of 4.13 and a beta of 0.57. The stock has a 50-day moving average price of $23.63 and a 200 day moving average price of $27.74. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62.
BCE (NYSE:BCE - Get Free Report) 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 the consensus estimate of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. As a group, analysts expect that BCE Inc. will post 1.94 earnings per share for the current year.
BCE Cuts Dividend
The business also recently announced 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 annualized dividend and a yield of 11.71%. The ex-dividend date is Friday, March 14th. BCE's dividend payout ratio (DPR) is 2,291.67%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. National Bankshares restated a "sector perform" rating on shares of BCE in a research report on Tuesday, March 11th. Bank of America lowered BCE from a "neutral" rating to an "underperform" rating in a research report on Tuesday, January 14th. Royal Bank of Canada restated a "sector perform" rating and issued a $39.00 target price on shares of BCE in a research report on Tuesday, February 25th. Barclays restated an "underweight" rating on shares of BCE in a report on Tuesday, January 21st. Finally, Morgan Stanley began coverage on shares of BCE in a research note on Monday, December 16th. They issued an "underweight" rating for the company. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, BCE currently has an average rating of "Hold" and a consensus price target of $40.00.
Check Out Our Latest Research Report on BCE
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.
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