MHI Funds LLC boosted its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 65.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,052 shares of the utilities provider’s stock after buying an additional 19,451 shares during the quarter. BCE makes up approximately 2.8% of MHI Funds LLC’s portfolio, making the stock its 20th largest holding. MHI Funds LLC’s holdings in BCE were worth $2,375,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of BCE. First Trust Advisors LP grew its position in BCE by 162.0% during the first quarter. First Trust Advisors LP now owns 1,074,857 shares of the utilities provider’s stock valued at $47,713,000 after buying an additional 664,567 shares during the period. GYL Financial Synergies LLC bought a new position in BCE during the first quarter worth about $213,000. B. Riley Wealth Management Inc. bought a new position in BCE during the first quarter worth about $200,000. FMR LLC boosted its position in BCE by 34.7% during the first quarter. FMR LLC now owns 718,508 shares of the utilities provider’s stock worth $31,904,000 after purchasing an additional 185,075 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in BCE by 22.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 547,844 shares of the utilities provider’s stock worth $24,317,000 after purchasing an additional 99,680 shares during the period. Institutional investors own 43.70% of the company’s stock.
NYSE:BCE traded down $0.01 on Thursday, reaching $48.91. 33,714 shares of the company’s stock were exchanged, compared to its average volume of 893,332. The stock has a fifty day simple moving average of $48.17 and a 200-day simple moving average of $46.16. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.57 and a quick ratio of 0.53. BCE Inc. has a 52 week low of $38.75 and a 52 week high of $49.58. The firm has a market cap of $44.34 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 5.21 and a beta of 0.39.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. BCE had a net margin of 12.51% and a return on equity of 19.15%. The company had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period last year, the business earned $0.86 earnings per share. BCE’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that BCE Inc. will post 2.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th were given a $0.601 dividend. This is a positive change from BCE’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Friday, September 13th. BCE’s dividend payout ratio (DPR) is 88.19%.
A number of brokerages have weighed in on BCE. TD Securities increased their target price on shares of BCE from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Scotiabank reiterated a “buy” rating on shares of BCE in a research report on Friday, August 16th. National Bank Financial upgraded shares of BCE from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 20th. Zacks Investment Research lowered shares of BCE from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. lowered shares of BCE from an “overweight” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Monday, July 8th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $59.33.
BCE Company Profile
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.
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