JPMorgan Chase & Co. Has $18.31 Million Stock Position in BCE Inc. (NYSE:BCE)

JPMorgan Chase & Co. trimmed its holdings in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 78.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 790,028 shares of the utilities provider's stock after selling 2,867,505 shares during the period. JPMorgan Chase & Co. owned 0.09% of BCE worth $18,313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of BCE by 217.6% in 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. grew its position in shares of BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after buying an additional 1,285 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of BCE by 67.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 799 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in shares of BCE in the 4th quarter valued at approximately $49,000. Finally, Flagship Wealth Advisors LLC bought a new position in BCE during the 4th quarter worth approximately $59,000. 41.46% of the stock is owned by institutional investors.

Remove Ads

BCE Stock Up 2.3 %

BCE stock traded up $0.49 during mid-day trading on Wednesday, reaching $21.73. The company's stock had a trading volume of 1,765,191 shares, compared to its average volume of 2,781,596. 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 Inc. has a 12 month low of $20.28 and a 12 month high of $36.17. The business's 50 day simple moving average is $23.01 and its 200 day simple moving average is $25.76. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of 181.08, a price-to-earnings-growth ratio of 4.13 and a beta of 0.56.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share (EPS) 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%. As a group, research analysts anticipate that BCE Inc. will post 1.94 earnings per share for the current year.

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were paid a $0.6965 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.79 annualized dividend and a dividend yield of 12.82%. BCE's dividend payout ratio is presently 2,291.67%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BCE. National Bankshares reiterated a "sector perform" rating on shares of BCE in a report on Tuesday, March 11th. National Bank Financial raised BCE from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. JPMorgan Chase & Co. cut BCE from a "neutral" rating to an "underweight" rating in a report on Friday, February 7th. Royal Bank of Canada restated a "sector perform" rating and set a $39.00 target price on shares of BCE in a report on Tuesday, February 25th. Finally, Barclays reissued an "underweight" rating on shares of BCE in a research report on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $40.00.

BCE Company 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.