Sandy Spring Bank decreased its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 50,766 shares of the utilities provider’s stock after selling 418 shares during the quarter. Sandy Spring Bank’s holdings in BCE were worth $2,105,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JJJ Advisors Inc. bought a new stake in BCE during the 3rd quarter worth about $25,000. Exchange Traded Concepts LLC increased its stake in BCE by 63.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 827 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 321 shares in the last quarter. MV Capital Management Inc. bought a new position in shares of BCE during the 2nd quarter worth approximately $38,000. Prospera Financial Services Inc bought a new position in shares of BCE in the third quarter valued at $38,000. Finally, Global Retirement Partners LLC grew its stake in shares of BCE by 46.3% in the third quarter. Global Retirement Partners LLC now owns 948 shares of the utilities provider’s stock valued at $39,000 after buying an additional 300 shares in the last quarter. 45.39% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the stock. Canaccord Genuity cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Royal Bank of Canada cut their price target on BCE from $59.00 to $58.00 and set a “sector perform” rating for the company in a report on Friday, November 6th. Barclays began coverage on BCE in a report on Friday, October 2nd. They set an “equal weight” rating and a $43.00 price target for the company. Finally, Scotiabank downgraded BCE to a “hold” rating and set a $63.00 price target for the company. in a report on Friday, August 7th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. BCE has an average rating of “Hold” and a consensus target price of $55.00.
BCE stock traded up $0.04 during midday trading on Tuesday, reaching $43.08. The company had a trading volume of 11,098 shares, compared to its average volume of 1,178,296. The company has a market capitalization of $38.92 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 4.93 and a beta of 0.38. The stock has a 50 day moving average price of $41.86 and a 200-day moving average price of $41.86. BCE Inc. has a 1-year low of $31.66 and a 1-year high of $49.26. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.88 and a quick ratio of 0.83.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings results on Tuesday, November 10th. The utilities provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.21. The business had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.70 billion. BCE had a return on equity of 16.12% and a net margin of 10.21%. BCE’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, research analysts anticipate that BCE Inc. will post 2.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 15th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend is Monday, December 14th. BCE’s dividend payout ratio (DPR) is presently 95.83%.
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.
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