Davis Rea LTD. cut its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,639 shares of the utilities provider’s stock after selling 596 shares during the period. BCE makes up 1.9% of Davis Rea LTD.’s holdings, making the stock its 22nd largest position. Davis Rea LTD.’s holdings in BCE were worth $3,268,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BCE. Parkside Financial Bank & Trust boosted its stake in shares of BCE by 2.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 9,700 shares of the utilities provider’s stock worth $383,000 after buying an additional 240 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of BCE by 1.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 25,367 shares of the utilities provider’s stock valued at $1,003,000 after purchasing an additional 253 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in shares of BCE by 3.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 8,214 shares of the utilities provider’s stock valued at $348,000 after purchasing an additional 259 shares during the period. Intrust Bank NA raised its holdings in shares of BCE by 5.2% in the 4th quarter. Intrust Bank NA now owns 5,303 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 261 shares during the period. Finally, Legacy Financial Advisors Inc. raised its holdings in shares of BCE by 31.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,349 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 320 shares during the period. 43.97% of the stock is owned by hedge funds and other institutional investors.
BCE has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed an “average” rating and issued a $62.00 target price on shares of BCE in a report on Friday, April 5th. Argus raised shares of BCE from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Friday, March 8th. Zacks Investment Research cut shares of BCE from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Desjardins cut shares of BCE from a “buy” rating to a “hold” rating in a report on Friday. Finally, Citigroup cut shares of BCE from a “buy” rating to a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $50.25.
BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. BCE had a net margin of 12.30% and a return on equity of 18.87%. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter last year, the firm earned $0.80 earnings per share. BCE’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts predict that BCE Inc. will post 2.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.604 per share. This is a boost from BCE’s previous quarterly dividend of $0.57. This represents a $2.42 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Thursday, March 14th. BCE’s dividend payout ratio (DPR) is currently 87.82%.
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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. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.
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