Cetera Investment Advisers Purchases 629 Shares of BCE, Inc. (BCE)
Cetera Investment Advisers lifted its position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,643 shares of the utilities provider’s stock after acquiring an additional 629 shares during the quarter. Cetera Investment Advisers’ holdings in BCE were worth $570,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in BCE in the second quarter valued at about $93,848,000. FMR LLC increased its holdings in BCE by 13.5% in the second quarter. FMR LLC now owns 13,936,315 shares of the utilities provider’s stock valued at $627,607,000 after purchasing an additional 1,662,207 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in BCE by 3,184.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,540,242 shares of the utilities provider’s stock valued at $69,262,000 after purchasing an additional 1,493,348 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in BCE by 113.9% in the second quarter. OMERS ADMINISTRATION Corp now owns 2,088,120 shares of the utilities provider’s stock valued at $93,899,000 after purchasing an additional 1,111,892 shares during the last quarter. Finally, Bank of Nova Scotia increased its holdings in BCE by 16.1% in the second quarter. Bank of Nova Scotia now owns 6,454,704 shares of the utilities provider’s stock valued at $290,718,000 after purchasing an additional 897,173 shares during the last quarter. Institutional investors own 42.72% of the company’s stock.
BCE, Inc. (NYSE:BCE) traded up 0.17% on Wednesday, reaching $47.50. The company’s stock had a trading volume of 107,385 shares. BCE, Inc. has a 52-week low of $41.83 and a 52-week high of $48.27. The firm’s 50-day moving average price is $47.35 and its 200-day moving average price is $45.99. The stock has a market cap of $42.77 billion, a price-to-earnings ratio of 17.82 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 earnings per share 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 business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the business posted $0.94 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. On average, equities analysts expect that BCE, Inc. will post $2.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Friday, September 15th were given a $0.575 dividend. The ex-dividend date was Thursday, September 14th. 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 4.85%. BCE’s dividend payout ratio (DPR) is 94.26%.
A number of equities research analysts recently commented on BCE shares. BidaskClub upgraded BCE from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, October 4th. Barclays PLC upped their price objective on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Morgan Stanley dropped their price objective on BCE from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, September 27th. Finally, Argus started coverage on BCE in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price 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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