BCE Inc. (BCE) is Reaves W H & Co. Inc.’s 9th Largest Position
Reaves W H & Co. Inc. decreased its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,394,048 shares of the utilities provider’s stock after selling 106,661 shares during the period. BCE makes up approximately 3.2% of Reaves W H & Co. Inc.’s holdings, making the stock its 9th biggest position. Reaves W H & Co. Inc.’s holdings in BCE were worth $97,007,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of BCE in the 2nd quarter worth approximately $273,156,000. Toronto Dominion Bank lifted its stake in shares of BCE by 35.6% in the 2nd quarter. Toronto Dominion Bank now owns 9,753,645 shares of the utilities provider’s stock worth $400,193,000 after acquiring an additional 2,559,555 shares during the period. Unigestion Holding SA acquired a new stake in shares of BCE in the 2nd quarter worth approximately $41,493,000. CIBC Asset Management Inc lifted its stake in shares of BCE by 20.0% in the 3rd quarter. CIBC Asset Management Inc now owns 5,529,319 shares of the utilities provider’s stock worth $223,841,000 after acquiring an additional 922,044 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of BCE by 22.6% in the 2nd quarter. Renaissance Technologies LLC now owns 4,392,771 shares of the utilities provider’s stock worth $177,867,000 after acquiring an additional 811,000 shares during the period. Hedge funds and other institutional investors own 42.92% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of BCE from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Barclays reduced their price target on shares of BCE from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, November 2nd. TD Securities reaffirmed a “hold” rating on shares of BCE in a research note on Wednesday, October 24th. Royal Bank of Canada reaffirmed a “hold” rating on shares of BCE in a research note on Friday, November 2nd. Finally, ValuEngine raised shares of BCE from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $51.75.
BCE (NYSE:BCE) (TSE:BCE) last released its earnings results on Thursday, November 1st. The utilities provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. BCE had a net margin of 12.13% and a return on equity of 18.73%. The business had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts predict that BCE Inc. will post 2.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be paid a dividend of $0.574 per share. This represents a $2.30 annualized dividend and a yield of 5.54%. The ex-dividend date is Thursday, December 13th. BCE’s dividend payout ratio is presently 88.55%.
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BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.
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