Greenleaf Trust lifted its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 27.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,572 shares of the utilities provider’s stock after buying an additional 1,397 shares during the quarter. Greenleaf Trust’s holdings in BCE were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of BCE. FMR LLC boosted its holdings in BCE by 34.7% during the 1st quarter. FMR LLC now owns 718,508 shares of the utilities provider’s stock valued at $31,904,000 after acquiring an additional 185,075 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of BCE in the third quarter worth about $290,000. Pacifica Partners Inc. boosted its stake in shares of BCE by 3.7% in the fourth quarter. Pacifica Partners Inc. now owns 26,663 shares of the utilities provider’s stock worth $1,136,000 after buying an additional 950 shares during the last quarter. Chemung Canal Trust Co. boosted its stake in shares of BCE by 44.4% in the fourth quarter. Chemung Canal Trust Co. now owns 9,450 shares of the utilities provider’s stock worth $404,000 after buying an additional 2,906 shares during the last quarter. Finally, Bogart Wealth LLC boosted its stake in shares of BCE by 9.6% in the fourth quarter. Bogart Wealth LLC now owns 63,651 shares of the utilities provider’s stock worth $2,724,000 after buying an additional 5,598 shares during the last quarter. 45.01% of the stock is currently owned by hedge funds and other institutional investors.
BCE has been the subject of a number of analyst reports. Desjardins upped their price target on BCE from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, May 3rd. Barclays reaffirmed a “hold” rating and issued a $57.00 price target on shares of BCE in a report on Sunday, May 2nd. Morgan Stanley raised BCE from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $55.00 to $58.00 in a report on Friday, March 5th. Zacks Investment Research cut BCE from a “hold” rating to a “strong sell” rating and set a $40.00 target price for the company. in a report on Thursday, March 11th. Finally, Canaccord Genuity increased their price target on BCE from $58.00 to $59.00 and gave the company a “hold” rating in a report on Friday, April 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. BCE currently has an average rating of “Hold” and an average price target of $58.06.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings results on Wednesday, April 28th. The utilities provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.58 by $0.20. BCE had a return on equity of 16.12% and a net margin of 10.21%. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same period last year, the business posted $0.80 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Analysts forecast that BCE Inc. will post 2.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Tuesday, June 15th will be given a dividend of $0.7072 per share. This is a positive change from BCE’s previous quarterly dividend of $0.68. This represents a $2.83 annualized dividend and a dividend yield of 5.85%. The ex-dividend date is Monday, June 14th. BCE’s dividend payout ratio (DPR) is currently 99.24%.
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 through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services.
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