Two Sigma Advisers LP Boosts Stake in BCE Inc. (BCE)
Two Sigma Advisers LP grew its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 354,242 shares of the utilities provider’s stock after purchasing an additional 2,700 shares during the period. Two Sigma Advisers LP’s holdings in BCE were worth $17,059,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Wealthcare Advisory Partners LLC acquired a new position in shares of BCE in the third quarter worth about $116,000. Quantbot Technologies LP purchased a new stake in shares of BCE in the third quarter worth approximately $190,000. Koch Industries Inc. purchased a new stake in shares of BCE in the fourth quarter worth approximately $220,000. Cedar Hill Associates LLC purchased a new stake in shares of BCE in the third quarter worth approximately $225,000. Finally, IFG Advisory LLC purchased a new stake in shares of BCE in the fourth quarter worth approximately $233,000. Institutional investors own 44.93% of the company’s stock.
BCE has been the subject of a number of research analyst reports. Desjardins lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Thursday, January 18th. Finally, Barclays increased their price target on shares of BCE from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. BCE has a consensus rating of “Buy” and a consensus price target of $56.00.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings data on Thursday, February 8th. The utilities provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.96 billion. BCE had a net margin of 12.25% and a return on equity of 19.85%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 earnings per share. equities analysts expect that BCE Inc. will post 2.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Thursday, March 15th will be given a dividend of $0.601 per share. This represents a $2.40 annualized dividend and a yield of 5.58%. The ex-dividend date is Wednesday, March 14th. This is a positive change from BCE’s previous quarterly dividend of $0.56. BCE’s dividend payout ratio (DPR) is presently 100.00%.
BCE declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 8th that allows the company to buyback $175.00 million in outstanding shares. This buyback authorization allows the utilities provider to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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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