Pring Turner Capital Group Inc. raised its position in BCE Inc. (NYSE:BCE) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 52,240 shares of the company’s stock after buying an additional 890 shares during the period. BCE accounts for approximately 3.2% of Pring Turner Capital Group Inc.’s investment portfolio, making the stock its 14th largest position. Pring Turner Capital Group Inc.’s holdings in BCE were worth $2,471,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the company. Cribstone Capital Management LLC acquired a new stake in BCE during the second quarter worth $170,000. Park Avenue Securities LLC acquired a new stake in BCE during the second quarter worth $204,000. Howland Capital Management LLC acquired a new stake in BCE during the second quarter worth $204,000. Bbva Compass Bancshares Inc. acquired a new stake in BCE during the second quarter worth $205,000. Finally, Concert Wealth Management Inc. acquired a new stake in BCE during the second quarter worth $215,000. Hedge funds and other institutional investors own 44.51% of the company’s stock.
BCE Inc. (NYSE:BCE) traded down 0.33% during trading on Monday, hitting $45.73. 261,734 shares of the stock traded hands. The stock has a market cap of $39.76 billion, a P/E ratio of 19.11 and a beta of 0.40. BCE Inc. has a 52-week low of $35.96 and a 52-week high of $49.03. The company’s 50 day moving average price is $46.25 and its 200-day moving average price is $46.74.
BCE (NYSE:BCE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. BCE had a net margin of 13.02% and a return on equity of 22.89%. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the company posted $0.87 EPS. BCE’s revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that BCE Inc. will post $2.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Thursday, September 15th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. BCE’s payout ratio is 88.14%.
Several research firms recently commented on BCE. Desjardins restated a “hold” rating and set a $64.00 price target on shares of BCE in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of BCE from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Citigroup Inc. raised their price target on shares of BCE from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, July 19th. JPMorgan Chase & Co. restated an “overweight” rating and set a $66.00 price target (up previously from $62.00) on shares of BCE in a research report on Sunday, August 7th. Finally, BMO Capital Markets restated a “buy” rating and set a $65.00 price target on shares of BCE in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.30.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
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