BCE, Inc. (BCE) Shares Bought by Shell Asset Management Co.
Shell Asset Management Co. boosted its position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 95.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 625,754 shares of the utilities provider’s stock after buying an additional 305,293 shares during the period. Shell Asset Management Co. owned 0.07% of BCE worth $29,967,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fulton Bank N.A. increased its position in BCE by 2.7% during the third quarter. Fulton Bank N.A. now owns 81,395 shares of the utilities provider’s stock worth $3,811,000 after buying an additional 2,141 shares during the period. Bogart Wealth LLC increased its holdings in shares of BCE by 48.6% in the second quarter. Bogart Wealth LLC now owns 31,181 shares of the utilities provider’s stock valued at $1,404,000 after purchasing an additional 10,202 shares during the period. Intl Fcstone Inc. acquired a new position in shares of BCE in the second quarter valued at approximately $3,120,000. WFG Advisors LP increased its holdings in shares of BCE by 0.4% in the second quarter. WFG Advisors LP now owns 4,503 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 16 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of BCE by 5.2% in the second quarter. Cetera Investment Advisers now owns 12,643 shares of the utilities provider’s stock valued at $570,000 after purchasing an additional 629 shares during the period. 42.72% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on BCE. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, October 4th. Morgan Stanley dropped their target price on BCE from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 27th. BidaskClub raised BCE from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Barclays PLC boosted their target price on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, Argus began coverage on BCE in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. BCE currently has a consensus rating of “Buy” and an average target price of $56.83.
BCE, Inc. (BCE) traded down 0.855% on Friday, hitting $46.945. The stock had a trading volume of 551,187 shares. The company’s 50 day moving average price is $47.33 and its 200-day moving average price is $46.06. The company has a market cap of $42.27 billion, a price-to-earnings ratio of 17.609 and a beta of 0.35. BCE, Inc. has a 12-month low of $41.83 and a 12-month high of $48.27.
BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.02). BCE had a net margin of 12.85% and a return on equity of 21.08%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that BCE, Inc. will post $2.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Investors of record on Friday, September 15th were given a $0.575 dividend. This is a boost from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Thursday, September 14th. BCE’s dividend payout ratio (DPR) is currently 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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