Cable Hill Partners LLC bought a new position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,233 shares of the utilities provider’s stock, valued at approximately $339,000.
A number of other institutional investors have also modified their holdings of the business. Bollard Group LLC grew its holdings in BCE by 3.9% during the 3rd quarter. Bollard Group LLC now owns 124,475 shares of the utilities provider’s stock worth $5,829,000 after acquiring an additional 4,638 shares in the last quarter. K.J. Harrison & Partners Inc grew its holdings in BCE by 26.5% during the 3rd quarter. K.J. Harrison & Partners Inc now owns 143,301 shares of the utilities provider’s stock worth $6,696,000 after acquiring an additional 29,993 shares in the last quarter. WMS Partners LLC grew its holdings in BCE by 28.9% during the 3rd quarter. WMS Partners LLC now owns 7,769 shares of the utilities provider’s stock worth $364,000 after acquiring an additional 1,743 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in BCE during the 3rd quarter worth about $8,180,000. Finally, Baskin Financial Services Inc. grew its holdings in BCE by 2.1% during the 3rd quarter. Baskin Financial Services Inc. now owns 351,875 shares of the utilities provider’s stock worth $16,442,000 after acquiring an additional 7,228 shares in the last quarter. Institutional investors own 43.02% of the company’s stock.
BCE Inc. (NYSE BCE) traded down 0.28% during mid-day trading on Tuesday, hitting $46.34. 315,763 shares of the stock were exchanged. The company has a 50 day moving average of $47.11 and a 200 day moving average of $46.15. The firm has a market cap of $41.72 billion, a P/E ratio of 18.40 and a beta of 0.35. BCE Inc. has a 12-month low of $41.83 and a 12-month high of $48.27.
BCE (NYSE:BCE) (TSE:BCE) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). BCE had a return on equity of 20.64% and a net margin of 14.23%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts anticipate that BCE Inc. will post $2.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Investors of record on Friday, September 15th were paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.95%. This is a positive change from BCE’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 14th. BCE’s dividend payout ratio is presently 94.26%.
Several research analysts have issued reports on the stock. BidaskClub upgraded shares of BCE from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Morgan Stanley dropped their target price on shares of BCE from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 27th. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, October 4th. Barclays PLC increased their target price on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Finally, Argus assumed coverage on shares of BCE in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $56.83.
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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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