Parametric Portfolio Associates LLC increased its holdings in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 18.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,037 shares of the utilities provider’s stock after purchasing an additional 27,388 shares during the period. Parametric Portfolio Associates LLC’s holdings in BCE were worth $8,019,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in BCE. SG Americas Securities LLC grew its position 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 purchasing an additional 20 shares during the period. Camarda Financial Advisors LLC grew its position 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 purchasing an additional 16 shares during the period. AT Bancorp purchased a new stake in shares of BCE in the second quarter valued at $149,000. FNY Partners Fund LP purchased a new stake in shares of BCE in the first quarter valued at $168,000. Finally, Adell Harriman & Carpenter Inc. purchased a new stake in shares of BCE in the second quarter valued at $203,000. 42.72% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on BCE shares. BidaskClub raised BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, October 4th. Morgan Stanley lowered their price objective on BCE from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 27th. Argus started coverage on BCE in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, Barclays PLC lifted their price objective on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. 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 company. The company presently has a consensus rating of “Buy” and an average price target of $56.83.
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Shares of BCE, Inc. (NYSE BCE) opened at 46.98 on Tuesday. 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 $42.30 billion, a P/E ratio of 17.62 and a beta of 0.35.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings results 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). BCE had a return on equity of 21.08% and a net margin of 12.85%. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company posted $0.94 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts forecast that BCE, Inc. will post $2.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Friday, September 15th were paid a $0.575 dividend. The ex-dividend date was Thursday, September 14th. This is an increase from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.90%. BCE’s dividend payout ratio is 94.26%.
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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