Blair William & Co. IL Acquires 2,719 Shares of BCE, Inc. (BCE)
Blair William & Co. IL raised its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 11.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,292 shares of the utilities provider’s stock after buying an additional 2,719 shares during the period. Blair William & Co. IL’s holdings in BCE were worth $1,184,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of BCE. SG Americas Securities LLC boosted its stake in BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock valued at $131,000 after buying an additional 20 shares during the last quarter. Camarda Financial Advisors LLC raised its position in BCE by 0.5% in the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock valued at $133,000 after buying an additional 16 shares during the last quarter. AT Bancorp acquired a new position in BCE during the second quarter valued at $149,000. FNY Partners Fund LP acquired a new position in BCE during the first quarter valued at $168,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in BCE by 11.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,877 shares of the utilities provider’s stock valued at $216,000 after buying an additional 518 shares during the last quarter. 42.96% of the stock is owned by institutional investors and hedge funds.
Shares of BCE, Inc. (NYSE BCE) opened at 47.57 on Tuesday. The firm has a market cap of $42.83 billion, a price-to-earnings ratio of 18.64 and a beta of 0.36. The stock’s 50 day moving average is $46.49 and its 200-day moving average is $45.12. BCE, Inc. has a 12-month low of $41.83 and a 12-month high of $48.35.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $5.70 billion for 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%. BCE’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share. On average, analysts anticipate that BCE, Inc. will post $2.68 EPS for the current fiscal year.
The firm 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 dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.83%. This is a boost from BCE’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 14th. BCE’s dividend payout ratio is presently 87.30%.
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Several equities analysts recently weighed in on BCE shares. Barclays PLC lifted their target price on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. BidaskClub raised shares of BCE from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Thursday, June 29th. Canaccord Genuity set a $60.00 price objective on shares of BCE and gave the company a “hold” rating in a research report on Tuesday, May 16th. Finally, Argus began coverage on shares of BCE in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Five 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 stock. The company has an average rating of “Buy” and an average target price 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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