Envestnet Portfolio Solutions Inc. Sells 768 Shares of BCE, Inc. $BCE

Envestnet Portfolio Solutions Inc. lessened its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 5.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,510 shares of the utilities provider’s stock after selling 768 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in BCE were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of BCE. Goldman Sachs Group Inc. raised its holdings in BCE by 170.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,679,620 shares of the utilities provider’s stock worth $268,164,000 after acquiring an additional 7,365,253 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in BCE by 36.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 25,249,300 shares of the utilities provider’s stock worth $579,458,000 after acquiring an additional 6,697,900 shares during the period. Federation des caisses Desjardins du Quebec raised its holdings in BCE by 94.4% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 10,649,978 shares of the utilities provider’s stock worth $243,966,000 after acquiring an additional 5,171,655 shares during the period. Canada Pension Plan Investment Board raised its holdings in BCE by 50.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 14,181,568 shares of the utilities provider’s stock worth $325,559,000 after acquiring an additional 4,783,232 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in BCE by 13.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,844,502 shares of the utilities provider’s stock worth $157,133,000 after acquiring an additional 815,614 shares during the period. Institutional investors own 41.46% of the company’s stock.

BCE Price Performance

Shares of BCE stock opened at $23.88 on Friday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.57 and a current ratio of 0.61. The firm’s 50-day simple moving average is $24.08 and its 200-day simple moving average is $23.05. BCE, Inc. has a twelve month low of $20.28 and a twelve month high of $33.33. The firm has a market cap of $22.27 billion, a P/E ratio of 82.34, a price-to-earnings-growth ratio of 4.09 and a beta of 0.63.

BCE (NYSE:BCE) (TSE:BCE) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.06). BCE had a net margin of 1.96% and a return on equity of 18.89%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm posted $0.78 earnings per share. BCE’s revenue was up 1.3% on a year-over-year basis. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. As a group, research analysts expect that BCE, Inc. will post 1.94 EPS for the current fiscal year.

BCE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 7.3%. The ex-dividend date was Monday, September 15th. BCE’s payout ratio is 437.93%.

Analyst Ratings Changes

Several research analysts recently commented on BCE shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of BCE in a report on Wednesday, October 8th. Cibc World Mkts downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. TD Securities upgraded shares of BCE from a “hold” rating to a “buy” rating in a report on Wednesday, October 15th. National Bankshares restated an “outperform” rating on shares of BCE in a report on Friday, August 15th. Finally, Royal Bank Of Canada upgraded shares of BCE from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $35.00 to $37.00 in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.50.

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.