Duff & Phelps Investment Management Co. cut its position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,867,800 shares of the utilities provider’s stock after selling 63,327 shares during the period. BCE comprises 1.2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 21st largest position. Duff & Phelps Investment Management Co. owned approximately 0.21% of BCE worth $84,126,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. TD Asset Management Inc. increased its stake in 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 period. Wellington Management Group LLP increased its stake in 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 period. FMR LLC increased its stake in 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 period. Great West Life Assurance Co. Can increased its stake in 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 period. Finally, Vanguard Group Inc. increased its stake in 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 period. Hedge funds and other institutional investors own 43.99% of the company’s stock.
Shares of BCE, Inc. (NYSE BCE) opened at 46.14 on Friday. The stock 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 capitalization of $41.54 billion, a P/E ratio of 17.87 and a beta of 0.36. BCE, Inc. has a 12 month low of $41.83 and a 12 month high of $49.03.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.02. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.65 billion. BCE had a return on equity of 21.08% and a net margin of 12.85%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. On average, analysts anticipate that BCE, Inc. will post $2.65 EPS for the current fiscal 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 paid 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 annualized dividend and a dividend yield of 4.98%. BCE’s dividend payout ratio (DPR) is currently 87.30%.
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A number of analysts recently weighed in on BCE shares. Canaccord Genuity set a $60.00 price target on BCE and gave the company a “hold” rating in a research note on Tuesday, May 16th. BidaskClub upgraded BCE from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Barclays PLC lifted their price target on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Zacks Investment Research downgraded BCE from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Finally, Argus started coverage on BCE in a research note on Tuesday, July 18th. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. BCE has an average rating of “Buy” and an average price target 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.
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