BCE Inc. (BCE) Holding Cut by Ashfield Capital Partners LLC

BCE Inc. (BCE) Holding Cut by Ashfield Capital Partners LLC

Ashfield Capital Partners LLC reduced its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 10.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,146 shares of the utilities provider’s stock after selling 2,170 shares during the period. Ashfield Capital Partners LLC’s holdings in BCE were worth $735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BCE. Edge Wealth Management LLC purchased a new position in BCE in the 3rd quarter worth approximately $103,000. New England Asset Management Inc. purchased a new position in BCE in the 2nd quarter worth approximately $203,000. Lenox Wealth Management Inc. raised its holdings in BCE by 42.2% in the 2nd quarter. Lenox Wealth Management Inc. now owns 4,958 shares of the utilities provider’s stock worth $204,000 after acquiring an additional 1,472 shares during the last quarter. Checchi Capital Advisers LLC purchased a new stake in BCE during the 2nd quarter valued at $211,000. Finally, Cypress Capital Group purchased a new stake in BCE during the 2nd quarter valued at $215,000. Institutional investors own 42.85% of the company’s stock.

A number of equities research analysts have weighed in on BCE shares. Desjardins upgraded shares of BCE from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Monday, October 15th. Scotiabank upgraded shares of BCE from a “sector perform” rating to a “buy” rating in a research note on Wednesday, October 10th. Edward Jones upgraded shares of BCE from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of BCE in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $51.75.

Shares of BCE opened at $40.57 on Tuesday. The firm has a market cap of $36.29 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 3.30 and a beta of 0.32. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 1.14. BCE Inc. has a 1-year low of $38.75 and a 1-year high of $49.06.

BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, November 1st. The utilities provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.85 billion. BCE had a net margin of 12.13% and a return on equity of 18.73%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. Sell-side analysts expect that BCE Inc. will post 3.5 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.574 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.30 dividend on an annualized basis and a yield of 5.66%. BCE’s dividend payout ratio is presently 88.55%.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

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