Capital Research Global Investors Increases Stake in BCE, Inc. (BCE)
Capital Research Global Investors lifted its holdings in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,878,000 shares of the utilities provider’s stock after purchasing an additional 224,000 shares during the period. Capital Research Global Investors owned about 0.99% of BCE worth $399,811,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new stake in BCE in the second quarter worth $93,848,000. FMR LLC increased its stake in BCE by 13.5% in the 2nd quarter. FMR LLC now owns 13,936,315 shares of the utilities provider’s stock worth $627,607,000 after purchasing an additional 1,662,207 shares during the period. Canada Pension Plan Investment Board increased its stake in BCE by 3,184.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,540,242 shares of the utilities provider’s stock worth $69,262,000 after purchasing an additional 1,493,348 shares during the period. Bank of America Corp DE increased its stake in BCE by 25.9% in the 1st quarter. Bank of America Corp DE now owns 6,384,703 shares of the utilities provider’s stock worth $282,651,000 after purchasing an additional 1,311,603 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its stake in BCE by 113.9% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 2,088,120 shares of the utilities provider’s stock worth $93,899,000 after purchasing an additional 1,111,892 shares during the period. 42.74% of the stock is currently owned by institutional investors.
Shares of BCE, Inc. (BCE) traded up 0.279% during mid-day trading on Wednesday, hitting $47.041. The company had a trading volume of 98,437 shares. The company has a 50-day moving average price of $47.34 and a 200-day moving average price of $45.81. BCE, Inc. has a 1-year low of $41.83 and a 1-year high of $48.27. The company has a market capitalization of $42.35 billion, a price-to-earnings ratio of 17.645 and a beta of 0.35.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the previous year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts anticipate that BCE, Inc. will post $2.70 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 dividend on an annualized basis and a yield of 4.90%. BCE’s dividend payout ratio (DPR) is currently 93.44%.
Several research analysts recently commented on BCE shares. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday. Argus began coverage on BCE in a research report on Tuesday, July 18th. They set a “hold” rating for the company. BidaskClub lowered BCE from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Morgan Stanley decreased their price objective on shares of BCE from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, September 27th. Finally, Barclays PLC raised their target price 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 investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $56.83.
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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