Global Financial Private Capital LLC Reduces Position in BCE Inc. (BCE)
Global Financial Private Capital LLC lessened its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 35.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. grew its stake 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 last quarter. Capital Investment Advisory Services LLC purchased a new position in shares of BCE in the 4th quarter valued at approximately $65,000. Cerebellum GP LLC purchased a new position in shares of BCE in the 4th quarter valued at approximately $81,000. Essex Savings Bank purchased a new position in shares of BCE in the 4th quarter valued at approximately $90,000. Finally, Edge Wealth Management LLC purchased a new position in shares of BCE in the 3rd quarter valued at approximately $103,000. Hedge funds and other institutional investors own 42.13% of the company’s stock.
Several brokerages have weighed in on BCE. Zacks Investment Research downgraded BCE from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Barclays decreased their price target on BCE from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, November 2nd. National Bank Financial downgraded BCE from an “outperform” rating to a “sector perform” rating in a research note on Friday, January 4th. ValuEngine upgraded BCE from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Desjardins upgraded BCE from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $45.50.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings data on Thursday, February 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.19 billion. BCE had a return on equity of 18.87% and a net margin of 12.30%. BCE’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, equities analysts anticipate that BCE Inc. will post 2.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be issued a $0.604 dividend. This represents a $2.42 dividend on an annualized basis and a dividend yield of 5.59%. This is a boost from BCE’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, March 14th. BCE’s payout ratio is 83.39%.
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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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