BCE Inc. (NYSE:BCE) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC decreased its stake in shares of BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,020 shares of the utilities provider’s stock after selling 944 shares during the period. Parallel Advisors LLC’s holdings in BCE were worth $158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cape Investment Advisory Inc. lifted its holdings in BCE by 84.1% in the 4th quarter. Cape Investment Advisory Inc. now owns 659 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 301 shares during the last quarter. US Bancorp DE lifted its stake in BCE by 9.7% during the fourth quarter. US Bancorp DE now owns 24,784 shares of the utilities provider’s stock valued at $976,000 after purchasing an additional 2,196 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in BCE by 87.1% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 31,329 shares of the utilities provider’s stock worth $1,234,000 after buying an additional 14,581 shares in the last quarter. Aigen Investment Management LP grew its position in BCE by 71.0% in the fourth quarter. Aigen Investment Management LP now owns 51,098 shares of the utilities provider’s stock worth $2,012,000 after buying an additional 21,209 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of BCE in the fourth quarter valued at $1,572,000. 41.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BCE has been the topic of a number of recent research reports. CIBC upgraded BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, April 23rd. BMO Capital Markets reaffirmed a “market perform” rating and set a $46.00 price objective (down from $54.00) on shares of BCE in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their target price on shares of BCE from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Argus downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, Barclays decreased their price objective on shares of BCE from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $49.00.

Get Our Latest Report on BCE

BCE Stock Up 0.5 %

BCE stock opened at $34.37 on Tuesday. The firm has a market cap of $31.36 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 5.40 and a beta of 0.55. The firm has a fifty day moving average price of $33.38 and a two-hundred day moving average price of $36.85. BCE Inc. has a fifty-two week low of $31.82 and a fifty-two week high of $46.58. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.61 and a quick ratio of 0.57.

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.47 billion. BCE had a return on equity of 16.86% and a net margin of 7.53%. As a group, analysts forecast that BCE Inc. will post 2.21 earnings per share for the current year.

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a dividend of $0.738 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.59%. The ex-dividend date of this dividend is Friday, June 14th. BCE’s dividend payout ratio is currently 202.08%.

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.

See Also

Institutional Ownership by Quarter for BCE (NYSE:BCE)

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