Envestnet Asset Management Inc. Sells 1,616,050 Shares of BCE Inc. (NYSE:BCE)

Envestnet Asset Management Inc. lessened its holdings in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 65.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 866,092 shares of the utilities provider's stock after selling 1,616,050 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of BCE worth $20,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BCE. Allworth Financial LP increased its position in BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 790 shares during the period. Blue Trust Inc. increased its position in shares of BCE by 1,147.3% during the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock valued at $32,000 after buying an additional 1,285 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of BCE by 67.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock valued at $46,000 after buying an additional 799 shares during the period. Vision Financial Markets LLC bought a new position in BCE in the fourth quarter worth about $49,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in BCE in the fourth quarter worth about $59,000. Institutional investors own 41.46% of the company's stock.

BCE Stock Up 1.8 %

NYSE:BCE traded up $0.40 on Friday, reaching $22.02. 2,836,146 shares of the stock traded hands, compared to its average volume of 2,799,480. The company's fifty day simple moving average is $22.97 and its 200 day simple moving average is $25.50. BCE Inc. has a 12 month low of $20.28 and a 12 month high of $36.17. 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 company has a market capitalization of $20.29 billion, a price-to-earnings ratio of 183.46, a PEG ratio of 4.13 and a beta of 0.56.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 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%. Equities analysts predict that BCE Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a dividend of $0.6965 per share. The ex-dividend date was Friday, March 14th. This represents a $2.79 dividend on an annualized basis and a dividend yield of 12.65%. BCE's dividend payout ratio is currently 2,291.67%.

Analyst Ratings Changes

BCE has been the subject of several research reports. National Bankshares reissued a "sector perform" rating on shares of BCE in a research report on Tuesday, March 11th. National Bank Financial upgraded BCE from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Bank of America cut shares of BCE from a "neutral" rating to an "underperform" rating in a report on Tuesday, January 14th. Barclays reiterated an "underweight" rating on shares of BCE in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut shares of BCE from a "neutral" rating to an "underweight" rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $40.00.

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.