DE Burlo Group Inc. increased its stake in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 5.3% during the second quarter, Holdings Channel reports. The fund owned 22,111 shares of the utilities provider’s stock after buying an additional 1,111 shares during the period. DE Burlo Group Inc.’s holdings in BCE were worth $995,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in BCE. SG Americas Securities LLC boosted its stake in shares of BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock valued at $131,000 after buying an additional 20 shares during the last quarter. Camarda Financial Advisors LLC boosted its stake in shares of BCE by 0.5% in the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock valued at $133,000 after buying an additional 16 shares during the last quarter. AT Bancorp bought a new stake in shares of BCE during the second quarter valued at approximately $149,000. FNY Partners Fund LP bought a new stake in shares of BCE during the first quarter valued at approximately $168,000. Finally, Round Table Services LLC bought a new stake in shares of BCE during the first quarter valued at approximately $215,000. Institutional investors and hedge funds own 44.35% of the company’s stock.
Shares of BCE, Inc. (BCE) opened at 46.65 on Friday. The stock has a market capitalization of $42.00 billion, a price-to-earnings ratio of 18.07 and a beta of 0.36. The company has a 50-day moving average of $46.19 and a 200-day moving average of $45.01. BCE, Inc. has a 52-week low of $41.83 and a 52-week high of $48.36.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. BCE’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. Equities research analysts anticipate that BCE, Inc. will post $2.63 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will be paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.93%. This is an increase from BCE’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 14th. BCE’s payout ratio is 87.30%.
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Several analysts have commented on BCE shares. BidaskClub upgraded shares of BCE from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Thursday, June 29th. Canaccord Genuity set a $60.00 target price on shares of BCE and gave the company a “hold” rating in a research report on Tuesday, May 16th. Argus began coverage on shares of BCE in a research report on Tuesday, July 18th. They set a “hold” rating on the stock. Finally, Barclays PLC upped their target price on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average 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.
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