M&T Bank Corp Sells 1,240 Shares of BCE Inc. (NYSE:BCE)

M&T Bank Corp cut its holdings in BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,944 shares of the utilities provider’s stock after selling 1,240 shares during the quarter. M&T Bank Corp’s holdings in BCE were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its holdings in shares of BCE by 239.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 707 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 499 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in BCE during the 3rd quarter valued at about $30,000. Larson Financial Group LLC boosted its holdings in shares of BCE by 120,000.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,201 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 1,200 shares during the last quarter. JCIC Asset Management Inc. grew its stake in shares of BCE by 26.5% in the fourth quarter. JCIC Asset Management Inc. now owns 1,189 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 249 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in shares of BCE by 147.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,744 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 1,040 shares during the last quarter. 41.46% of the stock is currently owned by hedge funds and other institutional investors.

BCE Trading Up 0.4 %

BCE stock opened at $33.94 on Friday. BCE Inc. has a 12-month low of $31.82 and a 12-month high of $47.81. The firm has a market capitalization of $30.96 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 4.57 and a beta of 0.55. The firm has a 50 day moving average of $33.78 and a 200 day moving average of $37.36. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.87.

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last announced its quarterly earnings data on Thursday, February 8th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. BCE had a net margin of 7.53% and a return on equity of 16.86%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.82 billion. As a group, research analysts predict that BCE Inc. will post 2.23 earnings per share for the current year.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.738 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.70%. The ex-dividend date of this dividend is Friday, June 14th. BCE’s dividend payout ratio (DPR) is 202.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BCE shares. Argus downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. CIBC raised BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, April 23rd. Barclays cut their price target on BCE from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. TD Securities cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of BCE from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.00.

View Our Latest Research Report on BCE

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.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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