Laurel Wealth Advisors Inc. Sells 100 Shares of BCE, Inc. (BCE)
Laurel Wealth Advisors Inc. lowered its holdings in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,304 shares of the utilities provider’s stock after selling 100 shares during the period. Laurel Wealth Advisors Inc.’s holdings in BCE were worth $1,815,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Camarda Financial Advisors LLC grew its stake in shares of BCE by 0.5% in the 2nd quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 16 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of BCE by 0.7% in the 1st quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 20 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of BCE by 0.5% in the 2nd quarter. Park Avenue Securities LLC now owns 7,206 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 34 shares during the last quarter. Tdam USA Inc. grew its stake in shares of BCE by 0.9% in the 2nd quarter. Tdam USA Inc. now owns 11,787 shares of the utilities provider’s stock worth $530,000 after purchasing an additional 100 shares during the last quarter. Finally, Nationwide Fund Advisors grew its stake in shares of BCE by 1.3% in the 2nd quarter. Nationwide Fund Advisors now owns 12,614 shares of the utilities provider’s stock worth $568,000 after purchasing an additional 160 shares during the last quarter. 42.74% of the stock is currently owned by institutional investors.
BCE, Inc. (NYSE BCE) traded down 0.13% on Monday, hitting $46.66. 135,717 shares of the stock traded hands. BCE, Inc. has a 12-month low of $41.83 and a 12-month high of $48.27. The stock has a market capitalization of $42.01 billion, a P/E ratio of 17.50 and a beta of 0.35. The company’s 50 day moving average price is $47.35 and its 200-day moving average price is $45.85.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. Analysts predict that BCE, Inc. will post $2.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 4.92%. This is a boost from BCE’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 14th. BCE’s dividend payout ratio is presently 93.44%.
Several research analysts have recently weighed in on BCE shares. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, October 4th. Barclays PLC lifted their target price on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. BidaskClub raised shares of BCE from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Morgan Stanley dropped their target price on shares of BCE from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 27th. Finally, Argus started coverage on shares of BCE in a research report on Tuesday, July 18th. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.83.
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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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