Probity Advisors Inc. lowered its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 1.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 19,899 shares of the utilities provider’s stock after selling 335 shares during the period. Probity Advisors Inc.’s holdings in BCE were worth $896,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after buying an additional 20 shares during the period. Camarda Financial Advisors LLC raised its stake in BCE by 0.5% in the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock worth $133,000 after buying an additional 16 shares in the last quarter. FNY Partners Fund LP acquired a new stake in BCE during the first quarter worth $168,000. Cribstone Capital Management LLC raised its stake in BCE by 63.9% in the first quarter. Cribstone Capital Management LLC now owns 4,762 shares of the utilities provider’s stock worth $215,000 after buying an additional 1,857 shares in the last quarter. Finally, Round Table Services LLC acquired a new stake in BCE during the first quarter worth $215,000. 44.35% of the stock is currently owned by institutional investors.
Shares of BCE, Inc. (NYSE:BCE) traded up 0.26% during midday trading on Friday, hitting $46.77. 723,681 shares of the stock traded hands. BCE, Inc. has a 52 week low of $41.83 and a 52 week high of $48.36. The company’s 50-day moving average is $46.24 and its 200 day moving average is $45.02. The firm has a market capitalization of $42.11 billion, a PE ratio of 18.33 and a beta of 0.36.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.02. BCE had a net margin of 12.85% and a return on equity of 21.08%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts anticipate that BCE, Inc. will post $2.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.575 per share. This is a boost from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Thursday, September 14th. BCE’s dividend payout ratio is currently 87.30%.
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A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of BCE from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Thursday, June 29th. Argus assumed coverage on shares of BCE in a research note on Tuesday, July 18th. They issued a “hold” rating for the company. Barclays PLC increased their price objective on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Finally, Canaccord Genuity set a $60.00 price objective on shares of BCE and gave the company a “hold” rating in a research note on Tuesday, May 16th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.80.
BCE Company Profile
BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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