Wells Fargo & Company MN Trims Stake in BCE Inc. (NYSE:BCE)

Wells Fargo & Company MN lessened its holdings in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 73.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 489,456 shares of the utilities provider's stock after selling 1,358,424 shares during the period. Wells Fargo & Company MN owned about 0.05% of BCE worth $11,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP raised its position in BCE by 217.6% in the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock worth $27,000 after acquiring an additional 790 shares during the period. Blue Trust Inc. raised its holdings in BCE by 1,147.3% in the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after purchasing an additional 1,285 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in BCE by 67.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 799 shares in the last quarter. Vision Financial Markets LLC purchased a new position in BCE during the fourth quarter valued at $49,000. Finally, Flagship Wealth Advisors LLC bought a new stake in BCE during the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Price Performance

NYSE BCE traded up $0.40 during trading on Friday, hitting $22.02. 2,836,146 shares of the stock traded hands, compared to its average volume of 2,799,480. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. BCE Inc. has a 12-month low of $20.28 and a 12-month high of $36.17. The firm has a 50-day simple moving average of $22.97 and a 200-day simple moving average of $25.44. The company has a market capitalization of $20.29 billion, a P/E ratio of 183.46, a price-to-earnings-growth ratio of 4.13 and a beta of 0.56.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. As a group, analysts predict that BCE Inc. will post 1.94 EPS for the current year.

BCE Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a $0.6965 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.79 annualized dividend and a yield of 12.65%. BCE's dividend payout ratio is currently 2,291.67%.

Wall Street Analysts Forecast Growth

BCE has been the topic of a number of analyst reports. Bank of America cut BCE from a "neutral" rating to an "underperform" rating in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $39.00 price target on shares of BCE in a report on Tuesday, February 25th. National Bank Financial raised shares of BCE from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. National Bankshares restated a "sector perform" rating on shares of BCE in a research note on Tuesday, March 11th. Finally, Barclays reiterated an "underweight" rating on shares of BCE in a research note on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $40.00.

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.