Old Port Advisors Lowers Stock Holdings in BCE Inc. (NYSE:BCE)

Old Port Advisors lowered its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,609 shares of the utilities provider’s stock after selling 827 shares during the period. Old Port Advisors’ holdings in BCE were worth $918,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its position in BCE by 2.6% in the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 367 shares during the period. Caldwell Sutter Capital Inc. boosted its stake in shares of BCE by 3.9% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock valued at $413,000 after buying an additional 445 shares during the last quarter. First Affirmative Financial Network boosted its stake in BCE by 6.1% during the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock valued at $285,000 after acquiring an additional 472 shares during the last quarter. Prospera Financial Services Inc increased its position in shares of BCE by 6.8% in the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 478 shares during the last quarter. Finally, FMR LLC lifted its position in shares of BCE by 6.8% during the third quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock worth $324,000 after purchasing an additional 596 shares during the last quarter. Institutional investors and hedge funds own 41.46% of the company’s stock.

BCE Stock Performance

Shares of NYSE BCE traded up $0.07 during midday trading on Thursday, hitting $23.25. 521,380 shares of the company’s stock were exchanged, compared to its average volume of 2,579,633. BCE Inc. has a twelve month low of $22.18 and a twelve month high of $41.77. The firm has a market cap of $21.21 billion, a P/E ratio of 332.14, a PEG ratio of 4.04 and a beta of 0.54. The stock’s 50 day moving average price is $26.86 and its 200-day moving average price is $31.40. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 12.68%. The ex-dividend date is Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s payout ratio is 4,214.29%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Barclays dropped their target price on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of BCE in a research note on Monday, December 16th. They set an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, BCE currently has a consensus rating of “Hold” and an average target price of $45.00.

BCE 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.