Mitsubishi UFJ Trust & Banking Corp Sells 289 Shares of BCE Inc. (NYSE:BCE)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) by 45.9% during the 2nd quarter, Holdings Channel reports. The firm owned 340 shares of the utilities provider’s stock after selling 289 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in BCE were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BCE. SG Americas Securities LLC bought a new position in shares of BCE during the first quarter worth approximately $313,000. Steward Partners Investment Advisory LLC boosted its position in BCE by 10.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 8,250 shares of the utilities provider’s stock valued at $458,000 after buying an additional 802 shares in the last quarter. National Asset Management Inc. acquired a new position in shares of BCE during the first quarter worth $272,000. Metis Global Partners LLC acquired a new position in shares of BCE during the first quarter worth $225,000. Finally, Envestnet Asset Management Inc. raised its stake in BCE by 2.9% during the first quarter. Envestnet Asset Management Inc. now owns 1,652,968 shares of the utilities provider’s stock worth $91,674,000 after buying an additional 47,158 shares during the last quarter. 43.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BCE shares. StockNews.com started coverage on shares of BCE in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. BMO Capital Markets decreased their price target on shares of BCE from C$75.00 to C$68.00 and set an “outperform” rating for the company in a research note on Friday, November 4th. TD Securities lifted their price target on shares of BCE from C$62.00 to C$64.00 in a research note on Friday, November 4th. Barclays decreased their price target on shares of BCE from $51.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, October 10th. Finally, National Bank Financial decreased their price target on shares of BCE from C$71.00 to C$68.00 in a research note on Thursday, September 29th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.18.

BCE Stock Up 0.6 %

Shares of NYSE BCE opened at $47.66 on Friday. The stock has a market capitalization of $43.46 billion, a P/E ratio of 19.61, a P/E/G ratio of 3.93 and a beta of 0.55. The company has a 50-day moving average price of $44.77 and a 200-day moving average price of $48.43. BCE Inc. has a 1 year low of $39.88 and a 1 year high of $59.34. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.60 and a quick ratio of 0.54.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date is Wednesday, December 14th. BCE’s dividend payout ratio is currently 114.81%.

About BCE

(Get Rating)

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communication products and services, as well as consumer electronics products.

Read More

Want to see what other hedge funds are holding BCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE).

Institutional Ownership by Quarter for BCE (NYSE:BCE)

Receive News & Ratings for BCE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE and related companies with MarketBeat.com's FREE daily email newsletter.