Duff & Phelps Investment Management Co. Raises Stake in BCE Inc. (BCE)
Duff & Phelps Investment Management Co. increased its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 1.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,824,182 shares of the company’s stock after buying an additional 32,665 shares during the period. BCE makes up 1.2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 27th largest position. Duff & Phelps Investment Management Co. owned about 0.21% of BCE worth $84,241,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Societe Generale bought a new position in BCE during the second quarter worth approximately $118,000. First Interstate Bank boosted its position in BCE by 62.9% in the second quarter. First Interstate Bank now owns 2,850 shares of the company’s stock worth $135,000 after buying an additional 1,100 shares during the period. Cribstone Capital Management LLC bought a new position in BCE during the second quarter worth approximately $170,000. Howland Capital Management LLC bought a new position in BCE during the second quarter worth approximately $204,000. Finally, Park Avenue Securities LLC bought a new position in BCE during the second quarter worth approximately $204,000. 44.43% of the stock is owned by hedge funds and other institutional investors.
Shares of BCE Inc. (NYSE:BCE) opened at 43.30 on Tuesday. BCE Inc. has a 12 month low of $35.96 and a 12 month high of $49.03. The firm has a market cap of $37.68 billion, a P/E ratio of 18.50 and a beta of 0.38. The stock’s 50 day moving average is $44.48 and its 200 day moving average is $46.35.
BCE (NYSE:BCE) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.22. BCE had a return on equity of 22.73% and a net margin of 13.05%. The company earned $5.41 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. BCE’s revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that BCE Inc. will post $2.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.509 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Tuesday, December 13th. BCE’s payout ratio is 88.14%.
COPYRIGHT VIOLATION WARNING: This article was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another site, it was stolen and reposted in violation of United States and international copyright & trademark legislation. The correct version of this article can be viewed at https://www.thecerbatgem.com/2016/11/29/duff-phelps-investment-management-co-raises-stake-in-bce-inc-bce.html.
Several research analysts have recently issued reports on BCE shares. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Wednesday, October 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BCE in a research note on Friday, November 4th. Canaccord Genuity reaffirmed a “buy” rating on shares of BCE in a research note on Thursday, November 3rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price objective on shares of BCE in a research note on Friday, August 5th. Finally, Credit Suisse Group AG set a $58.00 price objective on BCE and gave the company a “hold” rating in a research note on Sunday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $59.22.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
Receive News & Stock Ratings for BCE Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE Inc. and related stocks with our FREE daily email newsletter.