Hennessy Advisors Inc. decreased its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,400 shares of the utilities provider’s stock after selling 4,100 shares during the quarter. Hennessy Advisors Inc.’s holdings in BCE were worth $5,288,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc. lifted its holdings in shares of BCE by 3.7% in the second quarter. TD Asset Management Inc. now owns 18,546,068 shares of the utilities provider’s stock valued at $833,976,000 after buying an additional 667,600 shares during the period. Wellington Management Group LLP lifted its holdings in shares of BCE by 1.9% during the first quarter. Wellington Management Group LLP now owns 13,247,536 shares of the utilities provider’s stock valued at $584,936,000 after purchasing an additional 244,009 shares during the last quarter. FMR LLC lifted its holdings in shares of BCE by 3.6% during the first quarter. FMR LLC now owns 12,274,108 shares of the utilities provider’s stock valued at $543,445,000 after purchasing an additional 424,228 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of BCE by 6.2% during the second quarter. Great West Life Assurance Co. Can now owns 7,763,938 shares of the utilities provider’s stock valued at $348,772,000 after purchasing an additional 453,091 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of BCE by 0.3% during the second quarter. Franklin Resources Inc. now owns 7,185,736 shares of the utilities provider’s stock valued at $323,763,000 after purchasing an additional 22,247 shares during the last quarter. Institutional investors and hedge funds own 42.96% of the company’s stock.
Shares of BCE, Inc. (NYSE BCE) traded up 0.65% on Friday, reaching $47.68. The company’s stock had a trading volume of 658,977 shares. The stock has a market cap of $42.93 billion, a PE ratio of 18.42 and a beta of 0.35. BCE, Inc. has a 1-year low of $41.83 and a 1-year high of $48.27. The company’s 50 day moving average is $47.18 and its 200-day moving average is $45.44.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). BCE had a net margin of 12.85% and a return on equity of 21.08%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts predict that BCE, Inc. will post $2.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 4.82%. This is a positive change from BCE’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 14th. BCE’s payout ratio is currently 94.26%.
Several equities research analysts have recently commented on the company. Barclays PLC upped their target price on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. BidaskClub raised BCE from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Argus assumed coverage on BCE in a report on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Zacks Investment Research downgraded BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, August 7th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. BCE presently has a consensus rating of “Buy” and a consensus price target of $55.80.
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BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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