Cumberland Partners Ltd Has $951,000 Stake in BCE, Inc. (BCE)
Cumberland Partners Ltd reduced its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 7.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 21,136 shares of the utilities provider’s stock after selling 1,614 shares during the period. Cumberland Partners Ltd’s holdings in BCE were worth $951,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Camarda Financial Advisors LLC boosted its stake in 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 period. Parkside Financial Bank & Trust boosted its stake in BCE by 0.3% in the first quarter. Parkside Financial Bank & Trust now owns 7,890 shares of the utilities provider’s stock worth $349,000 after buying an additional 20 shares during the period. SG Americas Securities LLC boosted its stake in 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 period. Park Avenue Securities LLC boosted its stake in BCE by 0.5% in the second quarter. Park Avenue Securities LLC now owns 7,206 shares of the utilities provider’s stock worth $326,000 after buying an additional 34 shares during the period. Finally, FTB Advisors Inc. boosted its stake in BCE by 1.2% in the first quarter. FTB Advisors Inc. now owns 7,579 shares of the utilities provider’s stock worth $339,000 after buying an additional 87 shares during the period. 43.99% of the stock is currently owned by institutional investors and hedge funds.
BCE, Inc. (NYSE:BCE) opened at 46.14 on Friday. The firm has a market cap of $41.54 billion, a PE ratio of 17.87 and a beta of 0.36. The firm’s 50-day moving average is $45.93 and its 200 day moving average is $44.94. BCE, Inc. has a 1-year low of $41.83 and a 1-year high of $49.03.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts forecast that BCE, Inc. will post $2.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.98%. This is a boost 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 currently 87.30%.
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A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of BCE from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Argus assumed coverage on shares of BCE in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. Canaccord Genuity set a $60.00 price objective on shares of BCE and gave the stock a “hold” rating in a report on Tuesday, May 16th. BidaskClub cut shares of BCE from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, Barclays PLC increased their price objective on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $55.80.
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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