Cetera Investment Advisers Trims Stake in BCE Inc. (NYSE:BCE)

Cetera Investment Advisers decreased its position in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 49.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,232 shares of the utilities provider's stock after selling 72,501 shares during the quarter. Cetera Investment Advisers' holdings in BCE were worth $1,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of BCE by 217.6% during the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 790 shares during the last quarter. WealthCollab LLC purchased a new position in BCE during the fourth quarter valued at $27,000. Blue Trust Inc. boosted its holdings in BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after acquiring an additional 1,285 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in BCE by 67.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock worth $46,000 after acquiring an additional 799 shares in the last quarter. Finally, Vision Financial Markets LLC purchased a new stake in shares of BCE in the fourth quarter worth $49,000. Hedge funds and other institutional investors own 41.46% of the company's stock.

Analyst Ratings Changes

BCE has been the subject of several recent analyst reports. National Bankshares reaffirmed a "sector perform" rating on shares of BCE in a research report on Tuesday, March 11th. National Bank Financial raised shares of BCE from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $35.00 target price on shares of BCE in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. cut shares of BCE from a "neutral" rating to an "underweight" rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $38.67.

BCE Stock Performance

BCE traded up $0.07 during midday trading on Friday, hitting $21.54. 1,983,504 shares of the company traded hands, compared to its average volume of 2,943,890. The company's 50-day moving average is $21.95 and its 200 day moving average is $23.66. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $20.08 billion, a PE ratio of 179.46, a price-to-earnings-growth ratio of 4.13 and a beta of 0.63. BCE Inc. has a 52 week low of $20.28 and a 52 week high of $36.17.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.04. BCE had a net margin of 0.99% and a return on equity of 17.89%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, research analysts expect that BCE Inc. will post 1.94 EPS for the current year.

About BCE

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.