AT Bancorp Acquires New Position in BCE, Inc. (BCE)
AT Bancorp acquired a new position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,306 shares of the utilities provider’s stock, valued at approximately $149,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in shares of BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after buying an additional 20 shares in the last quarter. Camarda Financial Advisors LLC boosted its stake in shares of BCE by 0.5% in the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock worth $133,000 after buying an additional 16 shares in the last quarter. FNY Partners Fund LP acquired a new stake in shares of BCE during the first quarter worth approximately $168,000. Round Table Services LLC acquired a new stake in shares of BCE during the first quarter worth approximately $215,000. Finally, Cribstone Capital Management LLC boosted its stake in shares of BCE by 63.9% in the first quarter. Cribstone Capital Management LLC now owns 4,762 shares of the utilities provider’s stock worth $215,000 after buying an additional 1,857 shares in the last quarter. Institutional investors own 43.99% of the company’s stock.
Shares of BCE, Inc. (BCE) opened at 46.51 on Thursday. The stock has a 50 day moving average of $45.88 and a 200-day moving average of $44.93. The stock has a market capitalization of $41.84 billion, a PE ratio of 17.81 and a beta of 0.36. BCE, Inc. has a 52 week low of $41.83 and a 52 week high of $49.03.
BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. BCE’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. On average, equities research analysts expect that BCE, Inc. will post $2.65 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend 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 is Thursday, September 14th. BCE’s payout ratio is 87.30%.
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BCE has been the subject of a number of research reports. Zacks Investment Research cut shares of BCE from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. BidaskClub cut shares of BCE from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Canaccord Genuity set a $60.00 target price on shares of BCE and gave the company a “hold” rating in a report on Tuesday, May 16th. Argus initiated coverage on shares of BCE in a report on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Barclays PLC upped their target price on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.17.
BCE Company Profile
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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