Connor Clark & Lunn Investment Management Ltd. reduced its holdings in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,354,794 shares of the utilities provider's stock after selling 208,740 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.37% of BCE worth $77,664,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in BCE. Prospera Financial Services Inc boosted its position in shares of BCE by 6.8% during the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider's stock valued at $262,000 after purchasing an additional 478 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of BCE by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider's stock valued at $1,006,000 after buying an additional 520 shares in the last quarter. FMR LLC grew its position in shares of BCE by 6.8% in the 3rd quarter. FMR LLC now owns 9,307 shares of the utilities provider's stock worth $324,000 after buying an additional 596 shares during the period. D.A. Davidson & CO. increased its stake in shares of BCE by 3.0% in the 4th quarter. D.A. Davidson & CO. now owns 23,835 shares of the utilities provider's stock worth $552,000 after acquiring an additional 691 shares in the last quarter. Finally, State Street Corp lifted its position in BCE by 0.5% during the 3rd quarter. State Street Corp now owns 148,741 shares of the utilities provider's stock valued at $5,286,000 after acquiring an additional 749 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.
BCE Price Performance
BCE stock traded down $0.92 during midday trading on Friday, hitting $23.45. The company's stock had a trading volume of 2,193,721 shares, compared to its average volume of 3,252,304. The firm has a market capitalization of $21.61 billion, a price-to-earnings ratio of 195.38, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. BCE Inc. has a 12 month low of $21.87 and a 12 month high of $36.17. The company has a 50 day moving average of $23.64 and a two-hundred day moving average of $27.87.
BCE (NYSE:BCE - Get Free Report) TSE: BCE last issued its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. On average, analysts expect that BCE Inc. will post 1.94 EPS for the current 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 issued a dividend of $0.6965 per share. The ex-dividend date is Friday, March 14th. This represents a $2.79 annualized dividend and a dividend yield of 11.88%. BCE's dividend payout ratio (DPR) is 2,291.67%.
Analyst Upgrades and Downgrades
BCE has been the topic of a number of recent research reports. Bank of America cut shares of BCE from a "neutral" rating to an "underperform" rating in a report on Tuesday, January 14th. Barclays restated an "underweight" rating on shares of BCE in a research note on Tuesday, January 21st. National Bankshares reissued a "sector perform" rating on shares of BCE in a research note on Tuesday, March 11th. Royal Bank of Canada reiterated a "sector perform" rating and set a $39.00 price target on shares of BCE in a report on Tuesday, February 25th. Finally, Morgan Stanley initiated coverage on shares of BCE in a report on Monday, December 16th. They issued an "underweight" rating for the company. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $40.00.
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BCE Company Profile
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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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