Swiss National Bank decreased its stake in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 591,254 shares of the utilities provider’s stock after selling 162,000 shares during the period. Swiss National Bank owned 0.07% of BCE worth $26,631,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Camarda Financial Advisors LLC increased its position in BCE by 0.5% during the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 16 shares during the last quarter. SG Americas Securities LLC increased its position in BCE by 0.7% during the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 20 shares during the last quarter. Park Avenue Securities LLC increased its position in BCE by 0.5% during the second quarter. Park Avenue Securities LLC now owns 7,206 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 34 shares during the last quarter. Tdam USA Inc. increased its position in BCE by 0.9% during the second quarter. Tdam USA Inc. now owns 11,787 shares of the utilities provider’s stock worth $530,000 after purchasing an additional 100 shares during the last quarter. Finally, Logan Capital Management Inc. increased its position in BCE by 0.9% during the first quarter. Logan Capital Management Inc. now owns 19,471 shares of the utilities provider’s stock worth $862,000 after purchasing an additional 183 shares during the last quarter. 42.96% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on BCE shares. BidaskClub raised shares of BCE from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Thursday, June 29th. Argus assumed coverage on shares of BCE in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Barclays PLC boosted their price objective on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $55.80.
Shares of BCE, Inc. (NYSE:BCE) opened at 47.68 on Friday. The firm’s 50-day moving average is $47.18 and its 200 day moving average is $45.44. The stock has a market capitalization of $42.93 billion, a P/E 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.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.02). BCE had a return on equity of 21.08% and a net margin of 12.85%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company posted $0.94 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts expect that BCE, Inc. will post $2.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.575 per share. This is an increase from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Thursday, September 14th. BCE’s payout ratio is currently 94.26%.
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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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