BCE, Inc. (BCE) Shares Bought by Camden National Bank
Camden National Bank increased its stake in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 0.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 178,552 shares of the utilities provider’s stock after buying an additional 581 shares during the period. BCE makes up approximately 2.5% of Camden National Bank’s investment portfolio, making the stock its 20th largest position. Camden National Bank’s holdings in BCE were worth $8,042,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Schroder Investment Management Group boosted its position in BCE by 311.1% in the first quarter. Schroder Investment Management Group now owns 4,026,494 shares of the utilities provider’s stock valued at $236,637,000 after buying an additional 3,047,060 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in BCE by 3,184.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,540,242 shares of the utilities provider’s stock valued at $69,262,000 after buying an additional 1,493,348 shares in the last quarter. Bank of America Corp DE boosted its position in BCE by 25.9% in the first quarter. Bank of America Corp DE now owns 6,384,703 shares of the utilities provider’s stock valued at $282,651,000 after buying an additional 1,311,603 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in BCE during the first quarter valued at about $43,100,000. Finally, Renaissance Technologies LLC boosted its position in BCE by 78.6% in the first quarter. Renaissance Technologies LLC now owns 2,159,371 shares of the utilities provider’s stock valued at $95,610,000 after buying an additional 950,073 shares in the last quarter. Institutional investors and hedge funds own 44.35% of the company’s stock.
BCE, Inc. (BCE) opened at 47.03 on Thursday. BCE, Inc. has a 52 week low of $41.83 and a 52 week high of $48.47. The company has a market cap of $42.34 billion, a PE ratio of 18.21 and a beta of 0.36. The stock has a 50 day moving average of $46.15 and a 200 day moving average of $45.00.
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 the Zacks’ consensus estimate of $0.67 by $0.02. BCE had a return on equity of 21.08% and a net margin of 12.85%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the firm earned $0.94 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts predict that BCE, Inc. will post $2.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be issued a $0.575 dividend. The ex-dividend date is Thursday, September 14th. This is an increase from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 dividend on an annualized basis and a yield of 4.89%. BCE’s payout ratio is presently 87.30%.
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BCE has been the topic of several research analyst reports. Zacks Investment Research cut shares of BCE from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. BidaskClub cut shares of BCE from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Canaccord Genuity set a $60.00 target price on shares of BCE and gave the company a “hold” rating in a research note on Tuesday, May 16th. Argus initiated coverage on shares of BCE in a research note on Tuesday, July 18th. They set a “hold” rating on the stock. Finally, Barclays PLC upped their target price on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $55.80.
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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