Berkeley Capital Partners LLC Reduces Position in BCE Inc. (NYSE:BCE)

Berkeley Capital Partners LLC lessened its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 53.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,747 shares of the utilities provider’s stock after selling 20,762 shares during the quarter. Berkeley Capital Partners LLC’s holdings in BCE were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its stake in shares of BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 790 shares during the last quarter. Blue Trust Inc. boosted its stake 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 acquiring an additional 1,285 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of BCE during the 3rd quarter valued at $51,000. Legacy Investment Solutions LLC purchased a new position in shares of BCE during the 3rd quarter valued at $65,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of BCE by 67.6% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 41.46% of the company’s stock.

BCE Stock Down 1.6 %

Shares of BCE stock opened at $23.41 on Thursday. The company’s fifty day simple moving average is $23.62 and its two-hundred day simple moving average is $27.64. BCE Inc. has a 52 week low of $21.87 and a 52 week 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. The stock has a market cap of $21.58 billion, a P/E ratio of 195.04, a PEG ratio of 4.13 and a beta of 0.57.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. Analysts predict that BCE Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.6965 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.79 dividend on an annualized basis and a dividend yield of 11.90%. BCE’s dividend payout ratio (DPR) is presently 2,291.67%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BCE shares. National Bankshares restated a “sector perform” rating on shares of BCE in a research note on Tuesday, March 11th. JPMorgan Chase & Co. cut shares of BCE from a “neutral” rating to an “underweight” rating in a research note on Friday, February 7th. Barclays restated an “underweight” rating on shares of BCE in a research note on Tuesday, January 21st. Royal Bank of Canada restated a “sector perform” rating and set a $39.00 target price on shares of BCE in a research note on Tuesday, February 25th. Finally, Bank of America cut shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, BCE presently has an average rating of “Hold” and a consensus target price of $40.00.

About BCE

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.