K.J. Harrison & Partners Inc lifted its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 26.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,301 shares of the utilities provider’s stock after acquiring an additional 29,993 shares during the period. BCE makes up approximately 2.3% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 6th largest position. K.J. Harrison & Partners Inc’s holdings in BCE were worth $6,696,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of BCE by 35.8% during the second quarter. BlackRock Inc. now owns 2,062,333 shares of the utilities provider’s stock valued at $92,888,000 after acquiring an additional 543,921 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in BCE by 113.9% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 2,088,120 shares of the utilities provider’s stock worth $93,899,000 after purchasing an additional 1,111,892 shares during the period. Wells Fargo & Company MN grew its position in BCE by 3.9% in the 2nd quarter. Wells Fargo & Company MN now owns 3,125,798 shares of the utilities provider’s stock worth $140,786,000 after purchasing an additional 118,048 shares during the period. Intact Investment Management Inc. grew its position in BCE by 20.6% in the 2nd quarter. Intact Investment Management Inc. now owns 1,180,098 shares of the utilities provider’s stock worth $68,916,000 after purchasing an additional 201,960 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in BCE by 18.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 64,967 shares of the utilities provider’s stock worth $2,926,000 after purchasing an additional 9,950 shares during the period. 43.02% of the stock is owned by institutional investors.
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A number of equities research analysts have commented on BCE shares. BidaskClub raised shares of BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, October 4th. Morgan Stanley cut their target price on shares of 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 shares of BCE in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, Barclays PLC lifted their target price on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $56.83.
BCE Inc. (NYSE BCE) traded down 0.13% during midday trading on Tuesday, reaching $46.41. 286,321 shares of the company’s stock were exchanged. BCE Inc. has a 12-month low of $41.83 and a 12-month high of $48.27. The stock has a market capitalization of $41.79 billion, a price-to-earnings ratio of 18.42 and a beta of 0.35. The stock’s 50-day moving average is $47.11 and its 200-day moving average is $46.15.
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 Zacks’ consensus estimate of $0.67 by ($0.02). The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. BCE had a return on equity of 20.64% and a net margin of 14.23%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS. On average, equities analysts forecast that BCE Inc. will post $2.60 earnings per share for the current year.
The firm also recently disclosed 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 represents a $2.30 dividend on an annualized basis and a dividend yield of 4.95%. This is a positive change from BCE’s previous quarterly dividend of $0.53. BCE’s dividend payout ratio is presently 94.26%.
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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