Oppenheimer & Co. Inc. Sells 123,440 Shares of BCE Inc. (NYSE:BCE)

Oppenheimer & Co. Inc. decreased its position in shares of BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 76.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,831 shares of the utilities provider’s stock after selling 123,440 shares during the period. Oppenheimer & Co. Inc.’s holdings in BCE were worth $1,529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. JCIC Asset Management Inc. increased its position in BCE by 26.5% during the fourth quarter. JCIC Asset Management Inc. now owns 1,189 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 249 shares during the last quarter. Maryland State Retirement & Pension System increased its position in BCE by 0.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 31,420 shares of the utilities provider’s stock valued at $1,238,000 after acquiring an additional 274 shares during the last quarter. Cape Investment Advisory Inc. increased its position in BCE by 84.1% during the fourth 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. Raleigh Capital Management Inc. increased its position in BCE by 0.6% during the third quarter. Raleigh Capital Management Inc. now owns 52,805 shares of the utilities provider’s stock valued at $2,016,000 after acquiring an additional 311 shares during the last quarter. Finally, Great Lakes Retirement Inc. increased its position in BCE by 1.6% during the fourth quarter. Great Lakes Retirement Inc. now owns 21,963 shares of the utilities provider’s stock valued at $865,000 after acquiring an additional 340 shares during the last quarter. Institutional investors own 41.46% of the company’s stock.

Analyst Ratings Changes

BCE has been the topic of a number of research analyst reports. Barclays cut their price target on shares of BCE from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 9th. CIBC upgraded shares of BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, April 23rd. Argus cut shares of BCE from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $46.00 price target (down from $54.00) on shares of BCE in a report on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.00.

Read Our Latest Stock Analysis on BCE

BCE Stock Down 0.8 %

NYSE:BCE opened at $34.23 on Monday. BCE Inc. has a 1-year low of $31.82 and a 1-year high of $46.58. The company has a 50-day moving average of $33.42 and a 200 day moving average of $36.71. The firm has a market cap of $31.23 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 5.40 and a beta of 0.57. 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 quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. BCE had a net margin of 7.53% and a return on equity of 16.86%. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.47 billion. As a group, research analysts anticipate that BCE Inc. will post 2.21 EPS for the current fiscal year.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $0.738 per share. This represents a $2.95 annualized dividend and a dividend yield of 8.62%. The ex-dividend date is Friday, June 14th. BCE’s payout ratio is 204.86%.

BCE Company Profile

(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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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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