Alliancebernstein L.P. lifted its stake in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,084 shares of the utilities provider’s stock after buying an additional 7,426 shares during the period. Alliancebernstein L.P.’s holdings in BCE were worth $2,751,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Camarda Financial Advisors LLC boosted its position in shares of 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 period. SG Americas Securities LLC boosted its position in shares of BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after buying an additional 20 shares during the period. Park Avenue Securities LLC boosted its position in shares of BCE by 0.5% in the second quarter. Park Avenue Securities LLC now owns 7,206 shares of the utilities provider’s stock worth $326,000 after buying an additional 34 shares during the period. Tdam USA Inc. boosted its position in shares of BCE by 0.9% in the second quarter. Tdam USA Inc. now owns 11,787 shares of the utilities provider’s stock worth $530,000 after buying an additional 100 shares during the period. Finally, Logan Capital Management Inc. boosted its position in shares of BCE by 0.9% in the first quarter. Logan Capital Management Inc. now owns 19,471 shares of the utilities provider’s stock worth $862,000 after buying an additional 183 shares during the period. 42.74% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on BCE shares. BidaskClub downgraded BCE from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, October 4th. Argus started coverage on BCE in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Barclays PLC upped their target price on BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, Morgan Stanley decreased their target price on BCE from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 27th. 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 stock. The stock currently has an average rating of “Buy” and a consensus price target of $56.83.
BCE, Inc. (BCE) opened at 47.23 on Thursday. The company has a 50-day moving average price of $47.36 and a 200-day moving average price of $45.93. BCE, Inc. has a one year low of $41.83 and a one year high of $48.27. The stock has a market cap of $42.52 billion, a P/E ratio of 17.72 and a beta of 0.35.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data 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 business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. BCE had a return on equity of 21.08% and a net margin of 12.85%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, analysts anticipate that BCE, Inc. will post $2.66 earnings per share for the current year.
The firm also recently disclosed 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. The ex-dividend date is Thursday, September 14th. This is a positive change from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.87%. BCE’s payout ratio is presently 93.44%.
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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