BCE, Inc. (BCE) Stake Raised by Aviva PLC
Aviva PLC raised its stake in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,300 shares of the utilities provider’s stock after buying an additional 4,910 shares during the period. Aviva PLC’s holdings in BCE were worth $8,833,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. 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 last quarter. 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 last quarter. AT Bancorp purchased a new position in shares of BCE during the second quarter worth about $149,000. FNY Partners Fund LP purchased a new position in shares of BCE during the first quarter worth about $168,000. Finally, Adell Harriman & Carpenter Inc. purchased a new position in shares of BCE during the second quarter worth about $203,000. Institutional investors and hedge funds own 42.96% of the company’s stock.
Shares of BCE, Inc. (NYSE BCE) opened at 47.57 on Tuesday. The stock has a 50 day moving average price of $46.49 and a 200 day moving average price of $45.12. BCE, Inc. has a 52 week low of $41.83 and a 52 week high of $48.35. The firm has a market cap of $42.83 billion, a PE ratio of 18.64 and a beta of 0.36.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The firm 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 firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 EPS. Equities analysts expect that BCE, Inc. will post $2.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be paid a $0.575 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.30 annualized dividend and a yield of 4.83%. This is an increase from BCE’s previous quarterly dividend of $0.53. BCE’s dividend payout ratio (DPR) is presently 87.30%.
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A number of equities analysts have issued reports on the company. Zacks Investment Research cut BCE from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Argus assumed coverage on BCE in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Canaccord Genuity set a $60.00 price target on BCE and gave the company a “hold” rating in a research note on Tuesday, May 16th. BidaskClub cut BCE from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Finally, Barclays PLC increased their price target on 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, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. BCE presently has an average rating of “Buy” and an average price target 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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