PFG Advisors cut its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,543 shares of the utilities provider’s stock after selling 620 shares during the period. PFG Advisors’ holdings in BCE were worth $480,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in BCE during the second quarter worth about $25,000. Investors Research Corp purchased a new position in BCE during the first quarter worth about $25,000. Lindbrook Capital LLC boosted its holdings in BCE by 72.9% during the second quarter. Lindbrook Capital LLC now owns 854 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 360 shares during the last quarter. Pennsylvania Trust Co purchased a new position in BCE during the first quarter worth about $396,000. Finally, Osborn Williams & Donohoe LLC purchased a new position in BCE during the first quarter worth about $45,000. 44.54% of the stock is owned by institutional investors.
Several research analysts recently weighed in on BCE shares. Desjardins cut shares of BCE to a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. cut shares of BCE from an “overweight” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research note on Monday, July 8th. Scotiabank reiterated a “buy” rating on shares of BCE in a research note on Friday, August 16th. BMO Capital Markets reiterated an “average” rating and issued a $63.00 target price on shares of BCE in a research note on Friday, August 2nd. Finally, Citigroup cut shares of BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $54.90.
BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The business had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.90 billion. BCE had a net margin of 12.51% and a return on equity of 19.15%. BCE’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, sell-side analysts anticipate that BCE Inc. will post 2.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a $0.601 dividend. This is a positive change from BCE’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.18%. BCE’s dividend payout ratio is presently 87.45%.
BCE Company Profile
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.
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