Franklin Resources Inc. Sells 44,502 Shares of BCE Inc. (NYSE:BCE)

Franklin Resources Inc. decreased its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 13.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,671 shares of the utilities provider’s stock after selling 44,502 shares during the quarter. Franklin Resources Inc.’s holdings in BCE were worth $6,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 790 shares during the last quarter. Blue Trust Inc. increased its position in shares of BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 1,285 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of BCE by 67.6% during the 4th 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 during the last quarter. Vision Financial Markets LLC bought a new position in shares of BCE during the 4th quarter valued at approximately $49,000. Finally, Flagship Wealth Advisors LLC bought a new position in shares of BCE during the 4th quarter valued at approximately $59,000. Institutional investors own 41.46% of the company’s stock.

Wall Street Analyst Weigh In

BCE has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. National Bank Financial upgraded BCE from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. National Bankshares restated a “sector perform” rating on shares of BCE in a report on Tuesday, March 11th. Barclays restated an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $39.00 target price on shares of BCE in a report on Tuesday, February 25th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, BCE has a consensus rating of “Hold” and an average target price of $40.00.

BCE Price Performance

NYSE:BCE opened at $20.97 on Thursday. BCE Inc. has a one year low of $20.28 and a one year high of $36.17. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a market cap of $19.33 billion, a PE ratio of 174.75, a P/E/G ratio of 4.13 and a beta of 0.56. The stock has a 50 day moving average price of $23.25 and a 200 day moving average price of $26.15.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. Equities research analysts expect that BCE Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.6965 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.79 dividend on an annualized basis and a yield of 13.29%. BCE’s dividend payout ratio (DPR) is presently 2,291.67%.

BCE Company 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.