TD Asset Management Inc. grew its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,787,736 shares of the utilities provider’s stock after buying an additional 40,160 shares during the period. BCE accounts for approximately 1.2% of TD Asset Management Inc.’s holdings, making the stock its 15th biggest position. TD Asset Management Inc. owned 1.98% of BCE worth $811,012,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in BCE. FIL Ltd boosted its holdings in shares of BCE by 11.8% during the 1st quarter. FIL Ltd now owns 14,041,935 shares of the utilities provider’s stock valued at $623,526,000 after buying an additional 1,487,023 shares in the last quarter. Schafer Cullen Capital Management Inc boosted its stake in BCE by 33.5% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 4,693,979 shares of the utilities provider’s stock worth $217,284,000 after purchasing an additional 1,178,936 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in BCE in the 1st quarter worth about $63,915,000. First Trust Advisors LP boosted its stake in BCE by 162.0% in the 1st quarter. First Trust Advisors LP now owns 1,074,857 shares of the utilities provider’s stock worth $47,713,000 after purchasing an additional 664,567 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in BCE by 18.1% in the 1st quarter. Acadian Asset Management LLC now owns 4,008,367 shares of the utilities provider’s stock worth $177,929,000 after purchasing an additional 614,130 shares in the last quarter. Hedge funds and other institutional investors own 44.02% of the company’s stock.
A number of equities analysts recently issued reports on BCE shares. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, July 30th. BMO Capital Markets reiterated an “average” rating and issued a $63.00 price target on shares of BCE in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut shares of BCE from an “overweight” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research note on Monday, July 8th. Barclays reiterated an “average” rating and issued a $66.00 price target on shares of BCE in a research note on Sunday, May 5th. Finally, TD Securities upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $44.38 price target on the stock in a research note on Tuesday, June 18th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. BCE presently has a consensus rating of “Hold” and an average price target of $54.90.
NYSE:BCE traded up $0.43 during mid-day trading on Tuesday, reaching $46.61. The company’s stock had a trading volume of 61,080 shares, compared to its average volume of 820,991. BCE Inc. has a 12-month low of $38.75 and a 12-month high of $47.14. The firm’s fifty day simple moving average is $45.90. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $41.72 billion, a PE ratio of 17.21, a P/E/G ratio of 4.95 and a beta of 0.41.
BCE (NYSE:BCE) (TSE:BCE) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. BCE had a return on equity of 19.15% and a net margin of 12.51%. The business had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. BCE’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that BCE Inc. will post 2.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $0.601 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.40 annualized dividend and a dividend yield of 5.16%. This is a positive change from BCE’s previous quarterly dividend of $0.59. BCE’s dividend payout ratio is presently 87.45%.
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.
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