Global Financial Private Capital LLC trimmed its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 35.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279,212 shares of the utilities provider’s stock after selling 152,878 shares during the quarter. Global Financial Private Capital LLC’s holdings in BCE were worth $11,046,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in BCE. Legacy Financial Advisors Inc. boosted its holdings in BCE by 31.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,349 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 320 shares during the period. Capital Investment Advisory Services LLC purchased a new position in BCE during the 4th quarter valued at about $65,000. Cerebellum GP LLC purchased a new position in BCE during the 4th quarter valued at about $81,000. Essex Savings Bank purchased a new position in BCE during the 4th quarter valued at about $90,000. Finally, Ipswich Investment Management Co. Inc. purchased a new position in BCE during the 4th quarter valued at about $102,000. Institutional investors own 42.13% of the company’s stock.
BCE stock opened at $43.23 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.51 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $38.83 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 4.60 and a beta of 0.47. BCE Inc. has a 1 year low of $38.75 and a 1 year high of $45.08.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings results on Thursday, February 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.19 billion. BCE had a return on equity of 18.87% and a net margin of 12.30%. BCE’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. Equities analysts forecast that BCE Inc. will post 2.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a $0.604 dividend. The ex-dividend date is Thursday, March 14th. This represents a $2.42 dividend on an annualized basis and a yield of 5.59%. This is a positive change from BCE’s previous quarterly dividend of $0.57. BCE’s dividend payout ratio (DPR) is currently 83.39%.
BCE has been the subject of a number of research analyst reports. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Monday, October 15th. Desjardins upgraded BCE from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. ValuEngine upgraded BCE from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Royal Bank of Canada restated a “hold” rating on shares of BCE in a report on Friday, November 2nd. Finally, National Bank Financial lowered BCE from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. BCE currently has a consensus rating of “Hold” and an average price target of $45.50.
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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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