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%.
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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