Garrison Financial Corp continued to hold its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) during the second quarter, Holdings Channel reports. The fund owned 12,800 shares of the utilities provider’s stock at the end of the second quarter. Garrison Financial Corp’s holdings in BCE were worth $577,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of BCE. Camarda Financial Advisors LLC boosted its position 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 last quarter. Parkside Financial Bank & Trust boosted its position in BCE by 0.3% in the first quarter. Parkside Financial Bank & Trust now owns 7,890 shares of the utilities provider’s stock valued at $349,000 after buying an additional 20 shares in the last quarter. SG Americas Securities LLC boosted its position in BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock valued at $131,000 after buying an additional 20 shares in the last quarter. Park Avenue Securities LLC boosted its position in BCE by 0.5% in the second quarter. Park Avenue Securities LLC now owns 7,206 shares of the utilities provider’s stock valued at $326,000 after buying an additional 34 shares in the last quarter. Finally, FTB Advisors Inc. boosted its position in BCE by 1.2% in the first quarter. FTB Advisors Inc. now owns 7,579 shares of the utilities provider’s stock valued at $339,000 after buying an additional 87 shares in the last quarter. 43.99% of the stock is owned by hedge funds and other institutional investors.
BCE, Inc. (NYSE:BCE) opened at 46.24 on Friday. The stock’s 50 day moving average price is $45.98 and its 200 day moving average price is $44.95. The firm has a market capitalization of $41.63 billion, a PE ratio of 17.91 and a beta of 0.36. BCE, Inc. has a 52-week low of $41.83 and a 52-week high of $49.03.
BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. BCE had a return on equity of 21.08% and a net margin of 12.85%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. BCE’s quarterly revenue was up 6.7% on a year-over-year basis. On average, analysts predict that BCE, Inc. will post $2.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will be paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from BCE’s previous quarterly dividend of $0.53. BCE’s payout ratio is presently 87.30%.
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Several research firms have recently weighed in on BCE. BidaskClub raised BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research cut BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 7th. Barclays PLC upped their price objective on BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Argus began coverage on BCE in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Canaccord Genuity set a $60.00 price objective on BCE and gave the stock a “hold” rating in a research report on Tuesday, May 16th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently 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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