Tucker Asset Management LLC Sells 781 Shares of BCE Inc. (NYSE:BCE)

Tucker Asset Management LLC trimmed its stake in BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 32.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,632 shares of the utilities provider’s stock after selling 781 shares during the quarter. Tucker Asset Management LLC’s holdings in BCE were worth $64,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Cape Investment Advisory Inc. grew its holdings in BCE by 84.1% in the 4th quarter. Cape Investment Advisory Inc. now owns 659 shares of the utilities provider’s stock valued at $26,000 after buying an additional 301 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in BCE by 239.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 707 shares of the utilities provider’s stock valued at $28,000 after buying an additional 499 shares during the last quarter. JCIC Asset Management Inc. grew its holdings in BCE by 26.5% in the 4th quarter. JCIC Asset Management Inc. now owns 1,189 shares of the utilities provider’s stock valued at $47,000 after buying an additional 249 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in BCE by 147.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,744 shares of the utilities provider’s stock valued at $67,000 after buying an additional 1,040 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in BCE in the 4th quarter valued at approximately $105,000. 41.46% of the stock is owned by institutional investors.

BCE Price Performance

BCE stock traded down $0.37 during trading on Friday, hitting $32.88. The company had a trading volume of 2,191,246 shares, compared to its average volume of 1,829,266. The company has a fifty day moving average price of $33.48 and a two-hundred day moving average price of $36.51. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.87. The company has a market cap of $30.00 billion, a P/E ratio of 22.83, a P/E/G ratio of 5.20 and a beta of 0.57. BCE Inc. has a fifty-two week low of $31.82 and a fifty-two week high of $46.02.

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.47 billion. BCE had a return on equity of 16.86% and a net margin of 7.53%. Equities research analysts expect that BCE Inc. will post 2.2 earnings per share for the current fiscal year.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $0.738 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.95 annualized dividend and a yield of 8.98%. BCE’s payout ratio is 204.86%.

Wall Street Analyst Weigh In

BCE has been the topic of several recent research reports. CIBC raised BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, April 23rd. BMO Capital Markets lifted their price objective on BCE from $46.00 to $47.00 and gave the stock a “market perform” rating in a report on Wednesday. Barclays decreased their price objective on BCE from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 9th. Finally, Argus lowered BCE from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.25.

Read Our Latest Stock Report on BCE

About BCE

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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