Bank of New York Mellon Corp increased its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,611 shares of the utilities provider’s stock after purchasing an additional 14,868 shares during the period. Bank of New York Mellon Corp’s holdings in BCE were worth $12,941,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of BCE. Charles Schwab Investment Advisory Inc. bought a new position in BCE during the 2nd quarter valued at about $273,156,000. Toronto Dominion Bank lifted its stake in BCE by 35.6% during the 2nd quarter. Toronto Dominion Bank now owns 9,753,645 shares of the utilities provider’s stock valued at $400,193,000 after acquiring an additional 2,559,555 shares during the period. Renaissance Technologies LLC lifted its stake in BCE by 22.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,392,771 shares of the utilities provider’s stock valued at $177,867,000 after acquiring an additional 811,000 shares during the period. Epoch Investment Partners Inc. lifted its stake in BCE by 2,389.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 600,764 shares of the utilities provider’s stock valued at $24,325,000 after acquiring an additional 576,628 shares during the period. Finally, Bank of Nova Scotia lifted its stake in BCE by 7.5% during the 2nd quarter. Bank of Nova Scotia now owns 7,634,042 shares of the utilities provider’s stock valued at $308,683,000 after acquiring an additional 531,998 shares during the period. Institutional investors and hedge funds own 42.52% of the company’s stock.
BCE opened at $42.80 on Friday. BCE Inc. has a 52-week low of $38.75 and a 52-week high of $49.06. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 1.14. The stock has a market cap of $38.78 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 4.66 and a beta of 0.34.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts expect that BCE Inc. will post 2.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be paid a $0.574 dividend. This represents a $2.30 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend is Thursday, December 13th. BCE’s dividend payout ratio (DPR) is presently 88.55%.
Several equities analysts have issued reports on BCE shares. Desjardins upgraded shares of BCE from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Scotiabank upgraded shares of BCE from a “sector perform” rating to a “buy” rating in a research note on Wednesday, October 10th. ValuEngine upgraded shares of BCE from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Edward Jones upgraded shares of BCE from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Finally, Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Monday, October 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $45.50.
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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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