BCE, Inc. (BCE) Position Increased by Suntrust Banks Inc.
Suntrust Banks Inc. raised its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 525,059 shares of the utilities provider’s stock after purchasing an additional 16,335 shares during the quarter. Suntrust Banks Inc. owned 0.06% of BCE worth $23,646,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of BCE. SG Americas Securities LLC raised its position in BCE by 0.7% in the 1st quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 20 shares during the period. Camarda Financial Advisors LLC raised its position in BCE by 0.5% in the 2nd quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 16 shares during the period. AT Bancorp purchased a new stake in BCE in the 2nd quarter worth about $149,000. FNY Partners Fund LP purchased a new stake in BCE in the 1st quarter worth about $168,000. Finally, Adell Harriman & Carpenter Inc. purchased a new stake in BCE in the 2nd quarter worth about $203,000. 42.73% of the stock is currently owned by institutional investors.
Shares of BCE, Inc. (NYSE:BCE) traded down 0.17% during trading on Friday, hitting $47.67. 208,743 shares of the stock were exchanged. The stock’s 50 day moving average price is $47.23 and its 200-day moving average price is $45.53. BCE, Inc. has a one year low of $41.83 and a one year high of $48.27. The company has a market cap of $42.92 billion, a price-to-earnings ratio of 18.41 and a beta of 0.35.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.02). BCE had a return on equity of 21.08% and a net margin of 12.85%. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. On average, analysts predict that BCE, Inc. will post $2.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will be issued a $0.575 dividend. This is a positive change from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Thursday, September 14th. BCE’s dividend payout ratio is currently 94.26%.
A number of research firms recently weighed in on BCE. BidaskClub raised shares of BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Thursday, June 29th. Argus began coverage on shares of BCE in a research report on Tuesday, July 18th. They issued a “hold” rating on the stock. Finally, Barclays PLC increased their price objective on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. BCE currently has an average rating of “Buy” and an average price target of $55.80.
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BCE Company Profile
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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