Cetera Investment Advisers Has $1.05 Million Holdings in BCE, Inc. (NYSE:BCE)

Key Points

• Cetera Investment Advisers reduced its stake in BCE, Inc. by 39.3% in the first quarter, now owning 45,633 shares worth approximately $1,047,000.
• Several institutional investors increased their positions in BCE, with Canada Pension Plan Investment Board raising its stake by 623.9% during the same period.
• BCE reported earnings of $0.46 per share for the last quarter, missing analysts' estimates, and the company has announced a dividend yield of 565.0%.

Cetera Investment Advisers decreased its position in shares of BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 39.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,633 shares of the utilities provider's stock after selling 29,599 shares during the period. Cetera Investment Advisers' holdings in BCE were worth $1,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BCE. Bernard Wealth Management Corp. bought a new position in BCE during the fourth quarter valued at about $26,000. WealthCollab LLC acquired a new position in shares of BCE during the 4th quarter worth about $27,000. GeoWealth Management LLC acquired a new position in shares of BCE during the 4th quarter worth about $60,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of BCE by 67.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,310 shares of the utilities provider's stock worth $76,000 after purchasing an additional 1,329 shares during the last quarter. Finally, ORG Partners LLC lifted its position in shares of BCE by 77.2% during the 1st quarter. ORG Partners LLC now owns 3,891 shares of the utilities provider's stock worth $89,000 after purchasing an additional 1,695 shares during the last quarter. Institutional investors and hedge funds own 41.46% of the company's stock.

BCE Price Performance

NYSE BCE traded up $0.23 during trading on Friday, reaching $25.60. 3,383,810 shares of the company traded hands, compared to its average volume of 3,043,904. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.57 and a current ratio of 0.61. The stock's 50 day moving average price is $23.34 and its two-hundred day moving average price is $22.85. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 88.28, a P/E/G ratio of 4.30 and a beta of 0.62. BCE, Inc. has a 1-year low of $20.28 and a 1-year high of $36.17.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.06). The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $5.91 billion. BCE had a net margin of 1.96% and a return on equity of 18.89%. The firm's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, analysts anticipate that BCE, Inc. will post 1.94 EPS for the current year.

BCE Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.4375 per share. This represents a yield of 565.0%. The ex-dividend date of this dividend was Monday, June 16th. BCE's payout ratio is presently 434.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BCE shares. Cibc World Mkts cut BCE from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. National Bankshares reissued an "outperform" rating on shares of BCE in a research report on Friday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $35.00 price objective on shares of BCE in a research report on Wednesday, May 14th. Desjardins upgraded BCE from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. Finally, TD Securities restated a "hold" rating on shares of BCE in a research note on Friday, August 8th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $38.67.

BCE Company 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.