Camden National Bank Sells 1,026 Shares of BCE Inc. (NYSE:BCE)

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Camden National Bank lessened its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,885 shares of the utilities provider’s stock after selling 1,026 shares during the period. BCE makes up about 1.9% of Camden National Bank’s portfolio, making the stock its 27th largest holding. Camden National Bank’s holdings in BCE were worth $8,757,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of BCE. Meeder Asset Management Inc. acquired a new position in BCE in the 2nd quarter valued at approximately $25,000. Carroll Financial Associates Inc. increased its position in BCE by 155.3% in the 3rd quarter. Carroll Financial Associates Inc. now owns 697 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 424 shares during the period. Lindbrook Capital LLC increased its position in BCE by 72.9% in the 2nd quarter. Lindbrook Capital LLC now owns 854 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 360 shares during the period. Griffin Asset Management Inc. acquired a new position in BCE in the 2nd quarter valued at approximately $51,000. Finally, Putnam FL Investment Management Co. acquired a new position in BCE in the 2nd quarter valued at approximately $57,000. 43.85% of the stock is owned by institutional investors.

Shares of BCE traded down $0.05 during trading hours on Friday, hitting $48.88. 920,361 shares of the stock were exchanged, compared to its average volume of 1,094,267. BCE Inc. has a fifty-two week low of $38.75 and a fifty-two week high of $49.30. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.57 and a quick ratio of 0.53. The business has a 50-day moving average of $47.86 and a 200-day moving average of $46.02. The firm has a market capitalization of $43.78 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 5.17 and a beta of 0.39.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. BCE had a net margin of 12.51% and a return on equity of 19.15%. The company had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the prior year, the company posted $0.86 earnings per share. BCE’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts forecast that BCE Inc. will post 2.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $0.601 per share. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from BCE’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a dividend yield of 4.92%. BCE’s dividend payout ratio is 87.82%.

Several brokerages have issued reports on BCE. National Bank Financial upgraded shares of BCE from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 20th. Desjardins cut shares of BCE to a “hold” rating in a research report on Friday, August 2nd. Zacks Investment Research cut shares of BCE from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Monday, September 9th. JPMorgan Chase & Co. cut shares of BCE from an “overweight” rating to a “neutral” rating and set a $60.00 price target for the company. in a research report on Monday, July 8th. Finally, TD Securities upped their price target on shares of BCE from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $59.33.

BCE Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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