GYL Financial Synergies LLC acquired a new stake in BCE Inc. (NYSE:BCE) (TSE:BCE) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,789 shares of the utilities provider’s stock, valued at approximately $213,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investors Research Corp acquired a new stake in shares of BCE in the 1st quarter valued at $25,000. Sontag Advisory LLC acquired a new stake in shares of BCE during the fourth quarter worth $30,000. Pennsylvania Trust Co acquired a new stake in shares of BCE during the first quarter worth $396,000. Proficio Capital Partners LLC grew its stake in shares of BCE by 145.0% during the fourth quarter. Proficio Capital Partners LLC now owns 990 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 586 shares during the period. Finally, Osborn Williams & Donohoe LLC acquired a new stake in shares of BCE during the first quarter worth $45,000. 43.70% of the stock is owned by institutional investors.
A number of brokerages recently commented on BCE. Desjardins lifted their price objective on Stella-Jones from C$50.00 to C$54.00 in a research note on Friday, May 3rd. BMO Capital Markets reissued a “buy” rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. Citigroup cut BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Barclays reissued a “buy” rating on shares of NXP Semiconductors in a research note on Sunday, May 5th. Finally, JPMorgan Chase & Co. raised M.D.C. from an “underweight” rating to a “neutral” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. BCE presently has an average rating of “Hold” and an average price target of $54.06.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.75 billion. BCE had a return on equity of 18.66% and a net margin of 12.56%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 earnings per share. On average, analysts anticipate that BCE Inc. will post 2.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $0.592 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 5.12%. This is a positive change from BCE’s previous quarterly dividend of $0.56. The ex-dividend date is Thursday, June 13th. BCE’s payout ratio is 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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