Keybank National Association OH Sells 5,992 Shares of BCE Inc. (NYSE:BCE)

Keybank National Association OH trimmed its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 18.9% in the second quarter, HoldingsChannel reports. The firm owned 25,739 shares of the utilities provider’s stock after selling 5,992 shares during the quarter. Keybank National Association OH’s holdings in BCE were worth $1,075,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in BCE by 36.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 43,344 shares of the utilities provider’s stock valued at $1,810,000 after acquiring an additional 11,601 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of BCE by 52.9% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 21,868 shares of the utilities provider’s stock valued at $894,000 after buying an additional 7,568 shares in the last quarter. Capital World Investors lifted its stake in shares of BCE by 31.3% during the 1st quarter. Capital World Investors now owns 14,385 shares of the utilities provider’s stock valued at $590,000 after buying an additional 3,425 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of BCE by 19.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 73,390 shares of the utilities provider’s stock valued at $3,012,000 after buying an additional 12,059 shares in the last quarter. Finally, Vident Investment Advisory LLC purchased a new stake in shares of BCE during the 1st quarter valued at approximately $232,000. 45.60% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on BCE shares. CIBC dropped their price target on shares of BCE from $63.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Scotiabank cut shares of BCE to a “hold” rating and set a $63.00 price target on the stock. in a research note on Friday, August 7th. Zacks Investment Research cut shares of BCE from a “hold” rating to a “sell” rating and set a $43.00 price target on the stock. in a research note on Friday, May 29th. Finally, Canaccord Genuity cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. BCE has a consensus rating of “Hold” and an average target price of $58.14.

NYSE BCE opened at $43.80 on Wednesday. BCE Inc. has a 1 year low of $31.66 and a 1 year high of $49.58. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.92 and a quick ratio of 0.86. The stock has a market capitalization of $39.46 billion, a PE ratio of 18.18, a P/E/G ratio of 4.32 and a beta of 0.38. The company’s 50 day simple moving average is $42.17 and its two-hundred day simple moving average is $42.14.

BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.10. The firm had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.37 billion. BCE had a net margin of 10.75% and a return on equity of 16.56%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, research analysts anticipate that BCE Inc. will post 2.22 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be issued a $1.247 dividend. This is a positive change from BCE’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.99 dividend on an annualized basis and a dividend yield of 11.39%. BCE’s dividend payout ratio is presently 92.80%.

BCE Company Profile

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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