Epoch Investment Partners Inc. lessened its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 573,032 shares of the utilities provider’s stock after selling 27,732 shares during the period. Epoch Investment Partners Inc. owned approximately 0.06% of BCE worth $23,219,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank boosted its stake in shares of BCE by 2.8% in the 3rd quarter. Toronto Dominion Bank now owns 10,025,759 shares of the utilities provider’s stock worth $407,223,000 after buying an additional 272,114 shares during the last quarter. FIL Ltd boosted its stake in shares of BCE by 1.2% in the 3rd quarter. FIL Ltd now owns 8,084,544 shares of the utilities provider’s stock worth $327,538,000 after buying an additional 98,996 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of BCE by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 7,808,347 shares of the utilities provider’s stock worth $316,128,000 after buying an additional 70,912 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of BCE by 7.5% in the 2nd quarter. Bank of Nova Scotia now owns 7,634,042 shares of the utilities provider’s stock worth $308,683,000 after buying an additional 531,998 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. purchased a new position in BCE in the second quarter valued at approximately $273,156,000. Hedge funds and other institutional investors own 42.52% of the company’s stock.
BCE stock opened at $42.80 on Friday. BCE Inc. has a 12 month low of $38.75 and a 12 month 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 company has a market capitalization of $38.61 billion, a P/E ratio of 16.41, a PEG ratio of 4.64 and a beta of 0.34.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data 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 return on equity of 18.73% and a net margin of 12.13%. The business had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. BCE’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts predict that BCE Inc. will post 2.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be paid a $0.574 dividend. The ex-dividend date is Thursday, December 13th. This represents a $2.30 annualized dividend and a yield of 5.36%. BCE’s payout ratio is 88.55%.
BCE has been the topic of several research analyst reports. Desjardins upgraded BCE from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Scotiabank upgraded BCE from a “sector perform” rating to a “buy” rating in a research note on Wednesday, October 10th. ValuEngine upgraded BCE from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Edward Jones upgraded BCE from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Finally, Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Monday, October 15th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently 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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