Rathbone Brothers plc raised its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,325 shares of the utilities provider’s stock after purchasing an additional 2,799 shares during the quarter. Rathbone Brothers plc’s holdings in BCE were worth $3,130,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Cerebellum GP LLC raised its position in shares of BCE by 171.5% during the second quarter. Cerebellum GP LLC now owns 4,268 shares of the utilities provider’s stock valued at $173,000 after buying an additional 2,696 shares during the last quarter. Lenox Wealth Management Inc. raised its position in shares of BCE by 42.2% during the second quarter. Lenox Wealth Management Inc. now owns 4,958 shares of the utilities provider’s stock valued at $204,000 after buying an additional 1,472 shares during the last quarter. New England Asset Management Inc. bought a new stake in shares of BCE during the second quarter valued at approximately $203,000. Checchi Capital Advisers LLC bought a new stake in shares of BCE during the second quarter valued at approximately $211,000. Finally, Private Vista LLC bought a new stake in shares of BCE during the first quarter valued at approximately $226,000. 42.78% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently issued reports on BCE. Scotiabank upgraded shares of BCE from a “sector perform” rating to a “buy” rating in a research report on Wednesday. Edward Jones upgraded shares of BCE from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $56.00.
BCE stock opened at $39.05 on Friday. The company has a market cap of $36.39 billion, a PE ratio of 15.08, a P/E/G ratio of 4.33 and a beta of 0.29. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 1.10. BCE Inc. has a 1 year low of $38.88 and a 1 year high of $49.06.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.19. BCE had a net margin of 12.00% and a return on equity of 18.67%. The company had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. BCE’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts anticipate that BCE Inc. will post 2.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 14th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend is Thursday, September 13th. This is a boost from BCE’s previous quarterly dividend of $0.56. BCE’s payout ratio is currently 88.55%.
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. 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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