Virtu KCG Holdings LLC purchased a new position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,888 shares of the utilities provider’s stock, valued at approximately $445,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BCE. Principal Financial Group Inc. purchased a new position in BCE during the second quarter worth about $93,848,000. FMR LLC raised its holdings in BCE by 13.5% during the second quarter. FMR LLC now owns 13,936,315 shares of the utilities provider’s stock worth $627,607,000 after purchasing an additional 1,662,207 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in BCE by 3,184.5% during the second quarter. Canada Pension Plan Investment Board now owns 1,540,242 shares of the utilities provider’s stock worth $69,262,000 after purchasing an additional 1,493,348 shares in the last quarter. Bank of America Corp DE raised its holdings in BCE by 25.9% during the first quarter. Bank of America Corp DE now owns 6,384,703 shares of the utilities provider’s stock worth $282,651,000 after purchasing an additional 1,311,603 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its holdings in BCE by 113.9% during the second quarter. OMERS ADMINISTRATION Corp now owns 2,088,120 shares of the utilities provider’s stock worth $93,899,000 after purchasing an additional 1,111,892 shares in the last quarter. 42.74% of the stock is owned by hedge funds and other institutional investors.
BCE, Inc. (NYSE:BCE) opened at 47.07 on Friday. The stock has a market capitalization of $42.38 billion, a PE ratio of 17.66 and a beta of 0.35. BCE, Inc. has a one year low of $41.83 and a one year high of $48.27. The firm has a 50-day moving average of $47.35 and a 200-day moving average of $45.94.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results 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). The company had revenue of $5.70 billion during 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 revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. On average, equities research analysts forecast that BCE, Inc. will post $2.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will be paid a $0.575 dividend. This is a positive change from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Thursday, September 14th. BCE’s dividend payout ratio is currently 93.44%.
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A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, October 4th. Morgan Stanley dropped their target price on shares of BCE from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, September 27th. BidaskClub raised shares of BCE from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Barclays PLC increased their target price on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, Argus assumed coverage on shares of BCE in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $56.83.
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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