Pring Turner Capital Group Inc. Holds Position in BCE, Inc. (BCE)
Pring Turner Capital Group Inc. maintained its stake in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,466 shares of the utilities provider’s stock at the close of the 2nd quarter. BCE accounts for about 2.4% of Pring Turner Capital Group Inc.’s holdings, making the stock its 28th largest position. Pring Turner Capital Group Inc.’s holdings in BCE were worth $2,318,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. TD Asset Management Inc. boosted its holdings in BCE by 3.7% in the second quarter. TD Asset Management Inc. now owns 18,546,068 shares of the utilities provider’s stock worth $833,976,000 after purchasing an additional 667,600 shares during the last quarter. Wellington Management Group LLP raised its position in BCE by 1.9% in the first quarter. Wellington Management Group LLP now owns 13,247,536 shares of the utilities provider’s stock worth $584,936,000 after acquiring an additional 244,009 shares during the period. FMR LLC raised its position in BCE by 3.6% in the first quarter. FMR LLC now owns 12,274,108 shares of the utilities provider’s stock worth $543,445,000 after acquiring an additional 424,228 shares during the period. Great West Life Assurance Co. Can raised its position in BCE by 6.2% in the second quarter. Great West Life Assurance Co. Can now owns 7,763,938 shares of the utilities provider’s stock worth $348,772,000 after acquiring an additional 453,091 shares during the period. Finally, Franklin Resources Inc. raised its position in BCE by 0.3% in the second quarter. Franklin Resources Inc. now owns 7,185,736 shares of the utilities provider’s stock worth $323,763,000 after acquiring an additional 22,247 shares during the period. Institutional investors own 42.73% of the company’s stock.
Several research firms have weighed in on BCE. Barclays PLC increased their price target on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. BidaskClub upgraded shares of BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Argus began coverage on shares of BCE in a research report on Tuesday, July 18th. They issued a “hold” rating on the stock. Finally, Zacks Investment Research downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 7th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $55.80.
Shares of BCE, Inc. (BCE) traded down 0.388% during mid-day trading on Monday, hitting $47.495. 191,715 shares of the stock traded hands. The stock has a market cap of $42.76 billion, a price-to-earnings ratio of 18.345 and a beta of 0.35. The firm has a 50 day moving average of $47.18 and a 200 day moving average of $45.44. BCE, Inc. has a 12 month low of $41.83 and a 12 month high of $48.27.
BCE (NYSE:BCE) (TSE:BCE) last issued 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). The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. BCE’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share. On average, equities analysts expect that BCE, Inc. will post $2.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be given a dividend of $0.575 per share. This is a boost from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Thursday, September 14th. BCE’s dividend payout ratio (DPR) is presently 94.26%.
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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