CFM Wealth Partners LLC lessened its stake in BCE Inc. (NYSE:BCE – Free Report) (TSE:BCE) by 18.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,072 shares of the utilities provider’s stock after selling 1,364 shares during the period. CFM Wealth Partners LLC’s holdings in BCE were worth $206,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new position in BCE in the 1st quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV raised its stake in shares of BCE by 3,480.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 1,044 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 675 shares during the period. Brown Lisle Cummings Inc. lifted its position in BCE by 60.0% in the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 600 shares during the period. Finally, Bruce G. Allen Investments LLC raised its stake in shares of BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after buying an additional 1,268 shares in the last quarter. 41.46% of the stock is owned by institutional investors and hedge funds.
BCE Trading Up 2.7 %
BCE opened at $33.43 on Wednesday. BCE Inc. has a 1-year low of $31.13 and a 1-year high of $41.77. The firm has a 50-day moving average price of $34.68 and a two-hundred day moving average price of $33.71. The stock has a market capitalization of $30.50 billion, a PE ratio of 23.22, a PEG ratio of 5.55 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 2.00.
BCE Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th were given a dividend of $0.729 per share. This represents a $2.92 annualized dividend and a dividend yield of 8.72%. The ex-dividend date of this dividend was Monday, September 16th. BCE’s payout ratio is 204.86%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on BCE shares. Barclays lowered their target price on shares of BCE from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets lifted their target price on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. Cibc World Mkts raised BCE from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.33.
View Our Latest Research Report on BCE
BCE Profile
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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