Pioneer Investment Management Inc. bought a new position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) during the second quarter, Holdings Channel reports. The fund bought 496,658 shares of the utilities provider’s stock, valued at approximately $22,369,000.
Other large investors have also modified their holdings of the company. TD Asset Management Inc. boosted its stake in shares of 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 buying an additional 667,600 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 buying an additional 244,009 shares during the last quarter. FMR LLC boosted its stake in shares of 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 buying an additional 424,228 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of 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 buying an additional 453,091 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of BCE by 9.0% in the first quarter. Vanguard Group Inc. now owns 6,839,144 shares of the utilities provider’s stock worth $302,769,000 after buying an additional 564,047 shares during the last quarter. 43.99% of the stock is currently owned by institutional investors and hedge funds.
BCE, Inc. (BCE) opened at 46.51 on Thursday. BCE, Inc. has a 52-week low of $41.83 and a 52-week high of $49.03. The stock has a market capitalization of $41.84 billion, a price-to-earnings ratio of 17.81 and a beta of 0.36. The stock’s 50 day moving average is $45.88 and its 200-day moving average is $44.93.
BCE (NYSE:BCE) (TSE:BCE) last announced 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 company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Equities research analysts anticipate that BCE, Inc. will post $2.65 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. 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 4.95%. The ex-dividend date is Thursday, September 14th. BCE’s payout ratio is currently 87.30%.
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A number of equities research analysts have issued reports on BCE shares. Canaccord Genuity set a $60.00 target price on shares of BCE and gave the company a “hold” rating in a report on Tuesday, May 16th. BidaskClub raised shares of BCE from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Barclays PLC boosted 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. Zacks Investment Research cut shares of BCE from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Finally, Argus started coverage on shares of BCE in a report on Tuesday, July 18th. They set a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. BCE has a consensus rating of “Buy” and a consensus price target of $57.17.
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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