Huntington National Bank decreased its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 28.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,716 shares of the utilities provider’s stock after selling 4,627 shares during the period. Huntington National Bank’s holdings in BCE were worth $475,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Toronto Dominion Bank lifted its stake in BCE by 35.6% during the second quarter. Toronto Dominion Bank now owns 9,753,645 shares of the utilities provider’s stock worth $400,193,000 after purchasing an additional 2,559,555 shares during the period. Bank of Nova Scotia lifted its stake in BCE by 7.5% during the second quarter. Bank of Nova Scotia now owns 7,634,042 shares of the utilities provider’s stock worth $308,683,000 after purchasing an additional 531,998 shares during the period. Charles Schwab Investment Advisory Inc. bought a new position in BCE during the second quarter worth about $273,156,000. Letko Brosseau & Associates Inc. lifted its stake in BCE by 1.6% during the second quarter. Letko Brosseau & Associates Inc. now owns 6,584,749 shares of the utilities provider’s stock worth $266,504,000 after purchasing an additional 104,371 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in BCE by 22.6% during the second quarter. Renaissance Technologies LLC now owns 4,392,771 shares of the utilities provider’s stock worth $177,867,000 after purchasing an additional 811,000 shares during the period. Hedge funds and other institutional investors own 42.89% of the company’s stock.
NYSE:BCE opened at $40.50 on Tuesday. BCE Inc. has a 1 year low of $38.88 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.50 and a quick ratio of 0.46. The company has a market capitalization of $36.59 billion, a PE ratio of 15.80, a PEG ratio of 4.35 and a beta of 0.29.
BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, August 2nd. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.19. BCE had a net margin of 12.00% and a return on equity of 18.67%. The company had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. BCE’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that BCE Inc. will post 2.68 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 14th were paid a $0.58 dividend. The ex-dividend date was Thursday, September 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.73%. This is a boost from BCE’s previous quarterly dividend of $0.56. BCE’s payout ratio is 88.55%.
A number of research analysts have commented on the stock. Desjardins upgraded shares of BCE from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Monday, October 15th. Scotiabank upgraded shares of BCE from a “sector perform” rating to a “buy” rating in a research note on Wednesday, October 10th. Finally, Edward Jones upgraded shares of BCE from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $54.40.
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.
Further Reading: Inflation
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