BCE, Inc. (NYSE:BCE) Position Boosted by Sigma Planning Corp
Sigma Planning Corp raised its stake in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the utilities provider’s stock after buying an additional 610 shares during the period. Sigma Planning Corp’s holdings in BCE were worth $1,351,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its position in shares of BCE by 7.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 966,938 shares of the utilities provider’s stock valued at $43,600,000 after buying an additional 70,129 shares during the last quarter. Crescent Grove Advisors LLC acquired a new position in shares of BCE during the second quarter valued at about $1,026,000. Jones Collombin Investment Counsel Inc acquired a new position in shares of BCE during the second quarter valued at about $282,000. First Trust Advisors LP raised its position in shares of BCE by 2.4% in the second quarter. First Trust Advisors LP now owns 318,910 shares of the utilities provider’s stock valued at $14,364,000 after buying an additional 7,612 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of BCE by 3,184.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,540,242 shares of the utilities provider’s stock valued at $69,262,000 after buying an additional 1,493,348 shares during the last quarter. Institutional investors own 43.99% of the company’s stock.
Shares of BCE, Inc. (NYSE BCE) opened at 46.24 on Friday. The company’s 50-day moving average price is $45.98 and its 200-day moving average price is $44.95. The company has a market cap of $41.63 billion, a price-to-earnings ratio of 17.91 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 issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share (EPS) 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 business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts anticipate that BCE, Inc. will post $2.65 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors 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 yield of 4.97%. The ex-dividend date is Thursday, September 14th. This is a boost from BCE’s previous quarterly dividend of $0.53. BCE’s dividend payout ratio is currently 87.30%.
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Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 7th. 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. BidaskClub upgraded BCE from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Argus assumed coverage on BCE in a research note on Tuesday, July 18th. They issued a “hold” rating on the stock. Finally, 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. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. BCE presently has an average rating of “Buy” and an average target price of $55.80.
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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