BCE, Inc. (NYSE:BCE) Position Increased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its stake in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 7.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 966,938 shares of the utilities provider’s stock after buying an additional 70,129 shares during the period. DekaBank Deutsche Girozentrale owned about 0.11% of BCE worth $43,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Asset Management Inc. raised its stake in shares of BCE by 3.7% in the second quarter. TD Asset Management Inc. now owns 18,546,068 shares of the utilities provider’s stock worth $833,976,000 after buying an additional 667,600 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of BCE by 1.9% in the first quarter. Wellington Management Group LLP now owns 13,247,536 shares of the utilities provider’s stock worth $584,936,000 after buying an additional 244,009 shares during the last quarter. FMR LLC raised its stake in shares of BCE by 3.6% in the first quarter. FMR LLC now owns 12,274,108 shares of the utilities provider’s stock worth $543,445,000 after buying an additional 424,228 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of BCE by 6.2% in the second quarter. Great West Life Assurance Co. Can now owns 7,763,938 shares of the utilities provider’s stock worth $348,772,000 after buying an additional 453,091 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of BCE by 9.0% in the first quarter. Vanguard Group Inc. now owns 6,839,144 shares of the utilities provider’s stock worth $302,769,000 after buying an additional 564,047 shares during the last quarter. Institutional investors and hedge funds own 43.99% of the company’s stock.

Shares of BCE, Inc. (BCE) opened at 46.14 on Friday. BCE, Inc. has a one year low of $41.83 and a one year high of $49.03. The company has a 50 day moving average price of $45.93 and a 200-day moving average price of $44.94. The stock has a market cap of $41.54 billion, a price-to-earnings ratio of 17.87 and a beta of 0.36.

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 Zacks’ consensus estimate of $0.67 by $0.02. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. BCE had a return on equity of 21.08% and a net margin of 12.85%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. Equities analysts predict that BCE, Inc. will post $2.65 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.98%. This is a boost from BCE’s previous quarterly dividend of $0.53. BCE’s dividend payout ratio (DPR) is presently 87.30%.

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A number of analysts recently issued reports on BCE shares. Zacks Investment Research lowered BCE from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. BidaskClub lowered BCE from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Canaccord Genuity set a $60.00 price target on BCE and gave the company a “hold” rating in a report on Tuesday, May 16th. Argus started coverage on BCE in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, Barclays PLC boosted their price target on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. BCE presently has a consensus rating of “Buy” and a consensus target price of $55.80.

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.

Institutional Ownership by Quarter for BCE (NYSE:BCE)

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