FTB Advisors Inc. increased its stake in shares of BCE Inc. (NYSE:BCE) by 2.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,669 shares of the company’s stock after buying an additional 177 shares during the period. FTB Advisors Inc.’s holdings in BCE were worth $362,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. CIBC World Markets Inc. raised its position in shares of BCE by 1.7% in the second quarter. CIBC World Markets Inc. now owns 15,513,050 shares of the company’s stock valued at $733,922,000 after buying an additional 257,656 shares in the last quarter. Wellington Management Group LLP raised its position in shares of BCE by 0.8% in the first quarter. Wellington Management Group LLP now owns 12,303,401 shares of the company’s stock valued at $562,913,000 after buying an additional 93,906 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of BCE by 3.4% in the first quarter. 1832 Asset Management L.P. now owns 9,724,089 shares of the company’s stock valued at $659,196,000 after buying an additional 318,919 shares in the last quarter. Thomaspartners Inc. raised its position in shares of BCE by 3.9% in the first quarter. Thomaspartners Inc. now owns 3,960,227 shares of the company’s stock valued at $180,349,000 after buying an additional 148,338 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in shares of BCE by 7.6% in the first quarter. Scotia Capital Inc. now owns 3,124,240 shares of the company’s stock valued at $142,286,000 after buying an additional 220,379 shares in the last quarter. Institutional investors and hedge funds own 44.50% of the company’s stock.
Shares of BCE Inc. (NYSE:BCE) traded up 0.52% on Friday, hitting $45.97. The company had a trading volume of 445,645 shares. The company has a market capitalization of $39.97 billion, a price-to-earnings ratio of 19.21 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 stock’s 50-day moving average is $46.31 and its 200 day moving average is $46.73.
BCE (NYSE:BCE) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. BCE had a return on equity of 22.89% and a net margin of 13.02%. The company earned $5.34 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the business posted $0.87 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. Equities analysts expect that BCE Inc. will post $2.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Tuesday, September 13th. BCE’s dividend payout ratio (DPR) is presently 88.14%.
Several equities analysts have commented on the company. Zacks Investment Research lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price target on shares of BCE in a research report on Friday, August 5th. Desjardins reaffirmed a “hold” rating and issued a $64.00 price target on shares of BCE in a research report on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $66.00 price target (up previously from $62.00) on shares of BCE in a research report on Sunday, August 7th. Finally, Citigroup Inc. lifted their price target on BCE from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. BCE currently has a consensus rating of “Hold” and an average target price of $57.30.
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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