Envestnet Portfolio Solutions Inc. decreased its position in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 63.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,250 shares of the utilities provider's stock after selling 65,474 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in BCE were worth $886,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in BCE. Swiss National Bank raised its holdings in shares of BCE by 0.9% during the 3rd quarter. Swiss National Bank now owns 220,709 shares of the utilities provider's stock worth $7,686,000 after acquiring an additional 1,900 shares in the last quarter. Prospera Financial Services Inc grew its stake in shares of BCE by 6.8% in the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider's stock worth $262,000 after buying an additional 478 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of BCE by 2.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 113,569 shares of the utilities provider's stock worth $3,952,000 after buying an additional 2,437 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of BCE by 10.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 26,545 shares of the utilities provider's stock valued at $924,000 after buying an additional 2,572 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in BCE in the third quarter worth about $262,000. 41.46% of the stock is currently owned by hedge funds and other institutional investors.
BCE Stock Performance
Shares of BCE stock traded up $0.50 on Thursday, reaching $23.15. 2,380,175 shares of the stock were exchanged, compared to its average volume of 2,707,320. The business has a 50 day moving average price of $23.59 and a two-hundred day moving average price of $27.19. The firm has a market capitalization of $21.34 billion, a price-to-earnings ratio of 192.94, a PEG ratio of 4.13 and a beta of 0.57. BCE Inc. has a twelve month low of $21.87 and a twelve month high of $36.17. 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 (NYSE:BCE - Get Free Report) TSE: BCE last announced its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. Analysts anticipate that BCE Inc. will post 1.94 earnings per share for the current fiscal year.
BCE Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.6965 per share. This represents a $2.79 annualized dividend and a yield of 12.03%. The ex-dividend date is Friday, March 14th. BCE's dividend payout ratio (DPR) is 2,291.67%.
Wall Street Analyst Weigh In
BCE has been the subject of several recent analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $39.00 target price on shares of BCE in a research report on Tuesday, February 25th. National Bankshares reiterated a "sector perform" rating on shares of BCE in a research note on Tuesday, March 11th. Morgan Stanley assumed coverage on shares of BCE in a research note on Monday, December 16th. They set an "underweight" rating for the company. Barclays reaffirmed an "underweight" rating on shares of BCE in a research report on Tuesday, January 21st. Finally, Bank of America cut BCE from a "neutral" rating to an "underperform" rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, seven have assigned 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.com, the stock currently has an average rating of "Hold" and a consensus target price of $40.00.
View Our Latest 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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