DekaBank Deutsche Girozentrale boosted its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 213.3% during the second quarter, Holdings Channel reports. The fund owned 2,015,616 shares of the utilities provider’s stock after acquiring an additional 1,372,333 shares during the period. DekaBank Deutsche Girozentrale’s holdings in BCE were worth $91,926,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Investors Research Corp bought a new position in shares of BCE in the 1st quarter valued at about $25,000. Lindbrook Capital LLC boosted its stake in shares of BCE by 72.9% in the 2nd quarter. Lindbrook Capital LLC now owns 854 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 360 shares during the last quarter. Osborn Williams & Donohoe LLC bought a new position in shares of BCE in the 1st quarter valued at about $45,000. Putnam FL Investment Management Co. bought a new position in shares of BCE in the 2nd quarter valued at about $57,000. Finally, Parallel Advisors LLC boosted its stake in shares of BCE by 1,052.6% in the 1st quarter. Parallel Advisors LLC now owns 1,533 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 1,400 shares during the last quarter. 44.02% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on BCE shares. TD Securities raised shares of BCE from a “hold” rating to a “buy” rating and set a $44.38 target price on the stock in a research note on Tuesday, June 18th. JPMorgan Chase & Co. lowered shares of BCE from an “overweight” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research note on Monday, July 8th. Citigroup lowered shares of BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Desjardins lowered shares of BCE to a “hold” rating in a research note on Friday, August 2nd. Finally, Barclays reaffirmed an “average” rating and issued a $66.00 target price on shares of BCE in a research note on Sunday, May 5th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. BCE has an average rating of “Hold” and a consensus target price of $54.90.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. BCE had a net margin of 12.51% and a return on equity of 19.15%. The business had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter last year, the firm earned $0.86 EPS. BCE’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that BCE Inc. will post 2.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $0.601 per share. This is a positive change from BCE’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, September 13th. This represents a $2.40 annualized dividend and a yield of 5.16%. BCE’s dividend payout ratio (DPR) is presently 87.45%.
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.
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