Pacer Advisors Inc. Invests $1.51 Million in BCE, Inc. (BCE)
Pacer Advisors Inc. acquired a new position in BCE, Inc. (NYSE:BCE) (TSE:BCE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 33,551 shares of the utilities provider’s stock, valued at approximately $1,511,000.
Several other large investors have also made changes to their positions in BCE. SG Americas Securities LLC raised its stake 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 last quarter. Camarda Financial Advisors LLC raised its stake 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 last quarter. AT Bancorp acquired a new stake in shares of BCE during the second quarter worth $149,000. FNY Partners Fund LP acquired a new stake in shares of BCE during the first quarter worth $168,000. Finally, Adell Harriman & Carpenter Inc. acquired a new stake in shares of BCE during the second quarter worth $203,000. Hedge funds and other institutional investors own 44.35% of the company’s stock.
BCE, Inc. (NYSE:BCE) opened at 47.53 on Friday. The firm’s 50-day moving average is $46.49 and its 200-day moving average is $45.12. The stock has a market capitalization of $42.79 billion, a P/E ratio of 18.62 and a beta of 0.36. BCE, Inc. has a 12 month low of $41.83 and a 12 month high of $48.35.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company earned $0.94 EPS. The business’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 $2.68 earnings per share for the current fiscal year.
The company also recently announced 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 is a positive change from BCE’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 14th. This represents a $2.30 annualized dividend and a yield of 4.84%. BCE’s dividend payout ratio is presently 87.30%.
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BCE has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of BCE from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Thursday, June 29th. Canaccord Genuity set a $60.00 price target on shares of BCE and gave the company a “hold” rating in a report on Tuesday, May 16th. Argus initiated coverage on shares of BCE in a report on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Barclays PLC upped their price target on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus 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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