John G Ullman & Associates Inc. Trims Stake in BCE, Inc. (NYSE:BCE)

Key Points

• John G Ullman & Associates Inc. reduced its stake in BCE, Inc. by 41.3% in the first quarter, following the sale of over 75,000 shares, which left them with approximately 107,748 shares valued at about $2.47 million.
• BCE's stock experienced a 0.9% decline trading at $24.21, while the company reported earnings per share of $0.48, exceeding the consensus estimate, although revenue fell short of expectations at $4.12 billion.
• The recent dividend announced by BCE has a yield of 5.65%, but the company’s dividend payout ratio stands at an extremely high 488.46%.

John G Ullman & Associates Inc. trimmed its stake in shares of BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 41.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,748 shares of the utilities provider's stock after selling 75,874 shares during the quarter. John G Ullman & Associates Inc.'s holdings in BCE were worth $2,474,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BCE. Fiduciary Alliance LLC increased its position in BCE by 5.2% in the 1st quarter. Fiduciary Alliance LLC now owns 10,448 shares of the utilities provider's stock valued at $240,000 after acquiring an additional 519 shares during the period. Bridgewater Associates LP boosted its stake in shares of BCE by 4.7% in the 4th quarter. Bridgewater Associates LP now owns 13,655 shares of the utilities provider's stock valued at $316,000 after purchasing an additional 614 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of BCE by 7.8% in the 1st quarter. Transcend Capital Advisors LLC now owns 11,332 shares of the utilities provider's stock valued at $260,000 after purchasing an additional 816 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of BCE by 10.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 9,776 shares of the utilities provider's stock valued at $224,000 after purchasing an additional 916 shares during the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in shares of BCE in the 4th quarter valued at $26,000. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Trading Down 0.7%

BCE traded down $0.18 during trading on Monday, hitting $24.03. 593,861 shares of the stock traded hands, compared to its average volume of 3,299,445. The firm has a market capitalization of $22.40 billion, a P/E ratio of 92.44, a price-to-earnings-growth ratio of 3.98 and a beta of 0.61. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.64 and a quick ratio of 0.61. The firm has a 50-day moving average of $22.61 and a 200 day moving average of $22.76. BCE, Inc. has a 12-month low of $20.28 and a 12-month high of $36.17.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its earnings results on Thursday, May 8th. The utilities provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. BCE had a net margin of 1.82% and a return on equity of 19.22%. The firm had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same period last year, the company posted $0.75 EPS. The company's quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that BCE, Inc. will post 1.94 EPS for the current year.

BCE Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 5.65%. BCE's dividend payout ratio is currently 488.46%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cibc World Mkts downgraded shares of BCE from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Scotiabank raised shares of BCE from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, June 2nd. National Bank Financial raised shares of BCE from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $35.00 price target on shares of BCE in a research report on Wednesday, May 14th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $38.67.

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.