Bbva Compass Bancshares Inc. continued to hold its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,439 shares of the utilities provider’s stock at the end of the second quarter. Bbva Compass Bancshares Inc.’s holdings in BCE were worth $245,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Great West Life Assurance Co. Can increased its position in BCE by 6.2% in 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 buying an additional 453,091 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of BCE by 11.7% in the second quarter. Parkside Financial Bank & Trust now owns 8,815 shares of the utilities provider’s stock worth $397,000 after buying an additional 925 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of BCE by 5.1% in the second quarter. Janney Montgomery Scott LLC now owns 299,401 shares of the utilities provider’s stock worth $13,485,000 after buying an additional 14,644 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in shares of BCE by 4.4% in the second quarter. Hanson & Doremus Investment Management now owns 9,376 shares of the utilities provider’s stock worth $422,000 after buying an additional 395 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its stake in shares of BCE by 25.8% in the second quarter. John G Ullman & Associates Inc. now owns 166,927 shares of the utilities provider’s stock worth $7,518,000 after buying an additional 34,250 shares in the last quarter. Hedge funds and other institutional investors own 43.99% of the company’s stock.
Shares of BCE, Inc. (BCE) opened at 46.51 on Thursday. The company has a 50-day moving average price of $45.88 and a 200-day moving average price of $44.93. BCE, Inc. has a 12 month low of $41.83 and a 12 month high of $49.03. The stock has a market cap of $41.84 billion, a price-to-earnings ratio of 17.81 and a beta of 0.36.
BCE (NYSE:BCE) (TSE:BCE) last released 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. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.65 billion. BCE had a return on equity of 21.08% and a net margin of 12.85%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS. On average, analysts expect that BCE, Inc. will post $2.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will be issued a $0.575 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.95%. This is a positive change from BCE’s previous quarterly dividend of $0.53. BCE’s payout ratio is presently 87.30%.
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A number of equities research analysts recently commented on the company. BidaskClub upgraded BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Barclays PLC upped their target price on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Zacks Investment Research lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday. Argus assumed coverage on BCE in a research report on Tuesday, July 18th. They issued a “hold” rating on the stock. Finally, Canaccord Genuity set a $60.00 target price on BCE and gave the company a “hold” rating in a research report on Tuesday, May 16th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $57.17.
BCE Company Profile
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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