Brinker Capital Investments LLC lowered its position in BCE Inc. (NYSE:BCE – Get Rating) (TSE:BCE) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,875 shares of the utilities provider's stock after selling 1,343 shares during the period. Brinker Capital Investments LLC's holdings in BCE were worth $2,109,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in BCE. DAVENPORT & Co LLC boosted its position in BCE by 9.1% during the second quarter. DAVENPORT & Co LLC now owns 140,479 shares of the utilities provider's stock worth $6,909,000 after purchasing an additional 11,762 shares during the period. Baskin Financial Services Inc. boosted its position in BCE by 0.3% during the second quarter. Baskin Financial Services Inc. now owns 216,011 shares of the utilities provider's stock worth $10,608,000 after purchasing an additional 552 shares during the period. Viking Fund Management LLC boosted its position in BCE by 15.0% during the second quarter. Viking Fund Management LLC now owns 115,000 shares of the utilities provider's stock worth $5,656,000 after purchasing an additional 15,000 shares during the period. Veriti Management LLC bought a new stake in BCE during the second quarter worth approximately $201,000. Finally, Cerro Pacific Wealth Advisors LLC bought a new stake in BCE during the second quarter worth approximately $318,000. Institutional investors and hedge funds own 43.83% of the company's stock.
Get BCE alerts:BCE Stock Down 2.1 %
Shares of BCE stock opened at $41.94 on Friday. The stock has a market cap of $38.25 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 3.87 and a beta of 0.49. BCE Inc. has a one year low of $41.89 and a one year high of $59.34. The stock has a fifty day moving average price of $48.44 and a 200 day moving average price of $51.39. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.65 and a quick ratio of 0.59.
BCE (NYSE:BCE – Get Rating) (TSE:BCE) last issued its earnings results on Thursday, August 4th. The utilities provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. The firm had revenue of $5.86 billion during the quarter, compared to analysts' expectations of $5.87 billion. BCE had a return on equity of 15.73% and a net margin of 12.40%. BCE's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. Analysts predict that BCE Inc. will post 2.6 earnings per share for the current year.BCE Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.719 per share. This is a positive change from BCE's previous quarterly dividend of $0.72. This represents a $2.88 annualized dividend and a yield of 6.86%. The ex-dividend date is Wednesday, September 14th. BCE's dividend payout ratio is currently 114.86%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on BCE. National Bank Financial decreased their target price on BCE from C$71.00 to C$68.00 in a research report on Thursday. Canaccord Genuity Group reduced their price objective on BCE from C$70.00 to C$66.00 in a research report on Friday, July 22nd. Scotiabank increased their price objective on BCE from C$68.50 to C$69.00 in a research report on Tuesday, September 6th. Finally, Barclays increased their price objective on BCE from $49.00 to $51.00 and gave the company an "equal weight" rating in a research report on Friday, August 5th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.80.
BCE Company Profile
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BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communication products and services, as well as consumer electronics products.
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