NTV Asset Management LLC Reduces Stock Position in BCE Inc. (NYSE:BCE)

NTV Asset Management LLC trimmed its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 17.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,180 shares of the utilities provider’s stock after selling 2,735 shares during the period. NTV Asset Management LLC’s holdings in BCE were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI lifted its position in shares of BCE by 1.4% during the 4th quarter. National Bank of Canada FI now owns 15,933,185 shares of the utilities provider’s stock worth $643,159,000 after buying an additional 221,174 shares during the last quarter. Legacy Financial Advisors Inc. purchased a new stake in BCE in the fourth quarter valued at $222,000. Benjamin F. Edwards & Company Inc. boosted its stake in BCE by 3,179.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 166,743 shares of the utilities provider’s stock valued at $6,567,000 after acquiring an additional 161,658 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of BCE by 24.2% during the fourth quarter. Natixis Advisors L.P. now owns 313,355 shares of the utilities provider’s stock worth $12,339,000 after purchasing an additional 61,122 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. acquired a new stake in shares of BCE during the fourth quarter worth about $229,000. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Stock Performance

BCE stock traded up $0.61 during trading hours on Friday, reaching $33.60. 2,259,640 shares of the stock were exchanged, compared to its average volume of 2,339,421. The stock has a market cap of $30.65 billion, a P/E ratio of 23.33, a P/E/G ratio of 4.50 and a beta of 0.56. The firm’s 50 day moving average is $34.12 and its 200 day moving average is $37.49. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.61 and a current ratio of 0.65. BCE Inc. has a 52-week low of $31.82 and a 52-week high of $48.24.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings results on Thursday, February 8th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. BCE had a net margin of 7.53% and a return on equity of 16.70%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Analysts predict that BCE Inc. will post 2.25 EPS for the current fiscal year.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.738 per share. This represents a $2.95 annualized dividend and a dividend yield of 8.79%. The ex-dividend date of this dividend is Friday, June 14th. BCE’s dividend payout ratio (DPR) is 204.86%.

Analyst Ratings Changes

BCE has been the subject of a number of research analyst reports. BMO Capital Markets reissued a “market perform” rating and issued a $46.00 target price (down from $54.00) on shares of BCE in a research report on Tuesday, April 2nd. TD Securities lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays reduced their price target on shares of BCE from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price objective on shares of BCE from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Finally, CIBC upgraded shares of BCE from a “neutral” rating to a “sector outperform” rating in a research note on Tuesday, April 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.00.

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.