Denver Investment Advisors LLC Cuts Stake in BCE, Inc. (BCE)
Denver Investment Advisors LLC cut its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,780 shares of the utilities provider’s stock after selling 3,914 shares during the period. Denver Investment Advisors LLC’s holdings in BCE were worth $1,871,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC raised 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 during the last quarter. Camarda Financial Advisors LLC raised 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 during the last quarter. AT Bancorp purchased a new stake in shares of BCE during the second quarter worth approximately $149,000. FNY Partners Fund LP purchased a new stake in shares of BCE during the first quarter worth approximately $168,000. Finally, Round Table Services LLC purchased a new stake in shares of BCE during the first quarter worth approximately $215,000. Hedge funds and other institutional investors own 44.35% of the company’s stock.
BCE, Inc. (NYSE BCE) opened at 46.65 on Friday. The firm has a market capitalization of $42.00 billion, a price-to-earnings ratio of 18.07 and a beta of 0.36. BCE, Inc. has a 52-week low of $41.83 and a 52-week high of $48.36. The stock’s 50 day moving average price is $46.19 and its 200 day moving average price is $45.01.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly 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 company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. On average, equities analysts anticipate that BCE, Inc. will post $2.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will be paid a $0.575 dividend. This is a boost from BCE’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 14th. This represents a $2.30 annualized dividend and a dividend yield of 4.93%. BCE’s dividend payout ratio is presently 87.30%.
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BCE has been the subject of a number of research reports. BidaskClub upgraded BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Thursday, June 29th. Canaccord Genuity set a $60.00 price objective on BCE and gave the stock a “hold” rating in a research report on Tuesday, May 16th. Argus initiated coverage on BCE in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, Barclays PLC lifted their price objective on BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $55.80.
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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