Hexavest Inc. Cuts Position in BCE Inc. (NYSE:BCE)

Hexavest Inc. decreased its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 88.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 19,764 shares of the utilities provider’s stock after selling 155,254 shares during the period. Hexavest Inc.’s holdings in BCE were worth $817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BCE. Cardinal Capital Management Inc. lifted its position in shares of BCE by 8.0% during the third quarter. Cardinal Capital Management Inc. now owns 89,170 shares of the utilities provider’s stock worth $3,695,000 after purchasing an additional 6,631 shares in the last quarter. LGT Capital Partners LTD. lifted its holdings in BCE by 93.3% in the 3rd quarter. LGT Capital Partners LTD. now owns 1,143,100 shares of the utilities provider’s stock worth $47,187,000 after buying an additional 551,600 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in BCE by 2.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,575,047 shares of the utilities provider’s stock worth $65,317,000 after buying an additional 30,558 shares in the last quarter. Global Retirement Partners LLC boosted its position in BCE by 46.3% in the 3rd quarter. Global Retirement Partners LLC now owns 948 shares of the utilities provider’s stock valued at $39,000 after buying an additional 300 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in BCE by 1.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 309,775 shares of the utilities provider’s stock valued at $12,846,000 after buying an additional 5,771 shares during the last quarter. Institutional investors own 45.39% of the company’s stock.

A number of equities analysts have weighed in on the stock. Canaccord Genuity cut shares of BCE from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Scotiabank cut shares of BCE to a “hold” rating and set a $63.00 price objective for the company. in a research report on Friday, August 7th. Finally, Barclays assumed coverage on shares of BCE in a research report on Friday, October 2nd. They issued an “equal weight” rating and a $43.00 price objective for the company. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.00.

Shares of BCE stock opened at $42.71 on Thursday. The firm has a market cap of $38.56 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 4.23 and a beta of 0.39. The firm’s 50-day simple moving average is $42.42 and its 200-day simple moving average is $41.66. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.86 and a current ratio of 0.92. BCE Inc. has a 1 year low of $31.66 and a 1 year high of $49.26.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.53 by $0.10. BCE had a net margin of 10.75% and a return on equity of 16.56%. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $0.94 earnings per share. BCE’s revenue was down 9.1% compared to the same quarter last year. On average, equities analysts predict that BCE Inc. will post 2.24 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a $1.247 dividend. The ex-dividend date is Monday, September 14th. This represents a $4.99 annualized dividend and a dividend yield of 11.68%. This is a positive change from BCE’s previous quarterly dividend of $0.59. BCE’s dividend payout ratio (DPR) is presently 95.83%.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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