Franklin Resources Inc. Trims Position in BCE Inc. (NYSE:BCE)

Franklin Resources Inc. decreased its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 328,173 shares of the utilities provider’s stock after selling 490 shares during the quarter. Franklin Resources Inc.’s holdings in BCE were worth $11,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Tidal Investments LLC raised its position in BCE by 138.1% in the third quarter. Tidal Investments LLC now owns 14,884 shares of the utilities provider’s stock valued at $518,000 after purchasing an additional 8,633 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of BCE in the 3rd quarter valued at $137,000. Unigestion Holding SA purchased a new stake in shares of BCE in the 3rd quarter valued at $3,094,000. TD Private Client Wealth LLC lifted its stake in BCE by 2.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 92,027 shares of the utilities provider’s stock worth $3,203,000 after acquiring an additional 2,146 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in BCE by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 723,067 shares of the utilities provider’s stock valued at $28,673,000 after acquiring an additional 104,572 shares during the period. Hedge funds and other institutional investors own 41.46% of the company’s stock.

BCE Stock Up 0.2 %

Shares of NYSE BCE opened at $23.16 on Friday. The business has a 50-day moving average of $28.53 and a two-hundred day moving average of $32.03. The company has a market capitalization of $21.13 billion, a price-to-earnings ratio of 330.86, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54. BCE Inc. has a 1 year low of $22.90 and a 1 year high of $41.77. 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. Investors of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 12.73%. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio is 4,214.29%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barclays reduced their price target on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, BMO Capital Markets boosted their target price on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

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.