DORCHESTER WEALTH MANAGEMENT Co reduced its stake in BCE Inc. (NYSE:BCE) by 3.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 189,952 shares of the company’s stock after selling 6,850 shares during the period. BCE accounts for about 3.3% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its 6th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in BCE were worth $8,774,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BCE. Rehmann Capital Advisory Group boosted its position in BCE by 0.5% in the second quarter. Rehmann Capital Advisory Group now owns 4,907 shares of the company’s stock worth $232,000 after buying an additional 23 shares during the last quarter. Genesee Valley Trust Co. boosted its position in BCE by 0.3% in the third quarter. Genesee Valley Trust Co. now owns 7,508 shares of the company’s stock worth $347,000 after buying an additional 23 shares during the last quarter. Bremer Trust National Association boosted its position in BCE by 0.4% in the second quarter. Bremer Trust National Association now owns 9,191 shares of the company’s stock worth $435,000 after buying an additional 41 shares during the last quarter. WFG Advisors LP boosted its position in BCE by 0.8% in the second quarter. WFG Advisors LP now owns 5,675 shares of the company’s stock worth $268,000 after buying an additional 44 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its position in BCE by 1.2% in the second quarter. Moors & Cabot Inc. now owns 9,518 shares of the company’s stock worth $447,000 after buying an additional 111 shares during the last quarter. 44.51% of the stock is currently owned by institutional investors and hedge funds.
BCE Inc. (NYSE:BCE) traded down 0.11% during trading on Monday, hitting $45.83. The stock had a trading volume of 664,069 shares. BCE Inc. has a 12 month low of $35.96 and a 12 month high of $49.03. The company’s 50 day moving average is $46.25 and its 200-day moving average is $46.74. The company has a market cap of $39.85 billion, a PE ratio of 19.15 and a beta of 0.40.
BCE (NYSE:BCE) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $4.10 billion. BCE had a return on equity of 22.89% and a net margin of 13.02%. BCE’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 earnings per share. On average, equities research analysts predict that BCE Inc. will post $2.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.54%. BCE’s dividend payout ratio is currently 88.14%.
BCE has been the topic of several recent analyst reports. Zacks Investment Research raised BCE from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. BMO Capital Markets reissued a “buy” rating and set a $65.00 target price on shares of BCE in a research note on Friday, August 5th. Desjardins reissued a “hold” rating and set a $64.00 target price on shares of BCE in a research note on Wednesday, August 10th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $66.00 target price (up previously from $62.00) on shares of BCE in a research note on Sunday, August 7th. Finally, Citigroup Inc. lifted their target price on BCE from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $57.30.
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.