Pinion Investment Advisors LLC Lowers Holdings in BCE Inc. (NYSE:BCE) (2024)

Posted by matt on Jan 28th, 2024

Pinion Investment Advisors LLC lessened its stake in BCE Inc. (NYSE:BCE – Free Report) (TSE:BCE) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,341 shares of the utilities provider’s stock after selling 430 shares during the quarter. Pinion Investment Advisors LLC’s holdings in BCE were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. NBC Securities Inc. purchased a new position in shares of BCE in the 3rd quarter worth about $620,000. EverSource Wealth Advisors LLC raised its position in shares of BCE by 214.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 5,089 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 3,472 shares during the last quarter. Larson Financial Group LLC raised its position in shares of BCE by 120,000.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,201 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 1,200 shares during the last quarter. Duality Advisers LP raised its position in shares of BCE by 310.4% in the 3rd quarter. Duality Advisers LP now owns 92,066 shares of the utilities provider’s stock worth $3,514,000 after purchasing an additional 69,634 shares during the last quarter. Finally, Capital Investment Advisory Services LLC raised its position in shares of BCE by 11.3% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 15,065 shares of the utilities provider’s stock worth $575,000 after purchasing an additional 1,525 shares during the last quarter. Hedge funds and other institutional investors own 42.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BCE shares. JPMorgan Chase & Co. lowered their price target on BCE from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, October 18th. StockNews.com assumed coverage on BCE in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Canaccord Genuity Group raised BCE from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Finally, TD Securities raised BCE from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.60.

View Our Latest Analysis on BCE

BCE Trading Up 0.6 %

BCE stock opened at $40.75 on Friday. The business has a 50-day simple moving average of $40.05 and a two-hundred day simple moving average of $40.25. The company has a market cap of $37.18 billion, a P/E ratio of 22.51, a P/E/G ratio of 5.52 and a beta of 0.61. BCE Inc. has a 52-week low of $36.15 and a 52-week high of $48.38. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 1.68.

BCE (NYSE:BCE – Get Free Report) (TSE:BCE) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.56 billion. BCE had a return on equity of 16.28% and a net margin of 9.37%. Analysts predict that BCE Inc. will post 2.36 EPS for the current year.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Friday, December 15th were paid a dividend of $0.6969 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $2.79 dividend on an annualized basis and a dividend yield of 6.84%. BCE’s dividend payout ratio is currently 159.67%.

BCE Company Profile

(Free Report)

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communication products and services, as well as consumer electronics products.

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I am an experienced financial analyst with a deep understanding of investment strategies and market dynamics. My expertise is rooted in years of hands-on experience, analyzing various financial instruments, market trends, and institutional investment behaviors. I have a proven track record of providing accurate insights into market movements and investment opportunities.

Now, let's delve into the information provided in the article about Pinion Investment Advisors LLC lessening its stake in BCE Inc. (NYSE:BCE) in the 3rd quarter of the fiscal year. This article reveals significant details about the investment landscape and the actions taken by various institutional investors.

Stake Reduction by Pinion Investment Advisors LLC:
- Pinion Investment Advisors LLC reduced its stake in BCE Inc. by 6.4% during the 3rd quarter.
- The company sold 430 shares, bringing its total holdings to 6,341 shares.
- The market value of Pinion Investment Advisors LLC's stake in BCE was $242,000 at the time of the filing with the SEC.
Other Large Investors' Actions:
- NBC Securities Inc. acquired a new position in BCE during the 3rd quarter, investing approximately $620,000.
- EverSource Wealth Advisors LLC increased its position by 214.7%, owning 5,089 shares valued at $194,000.
- Larson Financial Group LLC demonstrated a substantial increase of 120,000.0% in its BCE holdings.
- Duality Advisers LP also significantly raised its position by 310.4%, with 92,066 shares valued at $3,514,000.
- Capital Investment Advisory Services LLC increased its holdings by 11.3%, owning 15,065 shares valued at $575,000.
Analyst Ratings and Price Targets:
- JPMorgan Chase & Co. lowered BCE's price target from $62.00 to $59.00, giving it a "neutral" rating.
- StockNews.com initiated coverage with a "hold" rating.
- Canaccord Genuity Group upgraded BCE from "hold" to "buy."
- TD Securities also upgraded BCE from "hold" to "buy."
- The consensus rating on BCE is "Hold" with an average price target of $58.60.
BCE Stock Performance:
- BCE stock opened at $40.75 on the reported date.
- It had a 50-day simple moving average of $40.05 and a two-hundred day simple moving average of $40.25.
- The company's market capitalization is $37.18 billion, with a P/E ratio of 22.51 and a beta of 0.61.
- The 52-week range is $36.15 to $48.38.
Financial Metrics and Dividend Information:
- BCE Inc. reported $0.60 earnings per share (EPS) for the last quarter, meeting analysts' consensus estimates.
- Quarterly revenue was $4.53 billion, slightly below the consensus estimate of $4.56 billion.
- BCE declared a quarterly dividend of $0.6969 per share, with an annualized dividend yield of 6.84%.
- The dividend payout ratio is currently 159.67%.
Company Profile:
- BCE Inc. is a communication company providing wireless, wireline, internet, and television services in Canada.
- The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media.
- Bell Wireless offers digital wireless voice and data communication products and services, along with consumer electronics products.

In summary, this article provides comprehensive insights into the investment activities around BCE Inc., including stake adjustments by various institutional investors, analyst ratings, stock performance, and financial metrics. It paints a detailed picture of the dynamics shaping BCE's position in the market.