IFP Advisors Inc boosted its position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 15.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,592 shares of the utilities provider’s stock after buying an additional 1,453 shares during the period. IFP Advisors Inc’s holdings in BCE were worth $477,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Concorde Asset Management LLC raised its position in shares of BCE by 2.2% in the first quarter. Concorde Asset Management LLC now owns 7,957 shares of the utilities provider’s stock worth $352,000 after buying an additional 175 shares during the last quarter. Nationwide Fund Advisors purchased a new position in shares of BCE during the first quarter worth $551,000. Candriam Luxembourg S.C.A. raised its position in shares of BCE by 108.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 137,185 shares of the utilities provider’s stock worth $6,057,000 after buying an additional 71,293 shares during the last quarter. Naples Global Advisors LLC raised its position in shares of BCE by 1.4% in the first quarter. Naples Global Advisors LLC now owns 32,130 shares of the utilities provider’s stock worth $1,422,000 after buying an additional 450 shares during the last quarter. Finally, Navellier & Associates Inc raised its position in shares of BCE by 7.2% in the first quarter. Navellier & Associates Inc now owns 7,884 shares of the utilities provider’s stock worth $349,000 after buying an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 44.35% of the company’s stock.
BCE, Inc. (BCE) opened at 46.24 on Monday. The company has a 50 day moving average of $45.98 and a 200-day moving average of $44.95. The company has a market cap of $41.63 billion, a P/E ratio of 17.91 and a beta of 0.36. BCE, Inc. has a one year low of $41.83 and a one year high of $49.03.
BCE (NYSE:BCE) (TSE:BCE) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.65 EPS 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 company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the firm earned $0.94 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts expect that BCE, Inc. will post $2.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Thursday, September 14th. This is a boost from BCE’s previous quarterly dividend of $0.53. BCE’s dividend payout ratio is currently 87.30%.
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A number of research analysts have recently weighed in on the company. BidaskClub upgraded BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 7th. Barclays PLC raised their price objective on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Argus assumed 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 company a “hold” rating in a research report on Tuesday, May 16th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. BCE presently has a consensus rating of “Buy” and a consensus price target 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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