Two Sigma Advisers LP trimmed its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 41.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 491,253 shares of the utilities provider’s stock after selling 345,242 shares during the period. Two Sigma Advisers LP owned about 0.05% of BCE worth $19,424,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC boosted its holdings in BCE by 145.0% in the fourth quarter. Proficio Capital Partners LLC now owns 990 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 586 shares in the last quarter. Cutler Group LP acquired a new position in BCE in the fourth quarter valued at approximately $43,000. Legacy Financial Advisors Inc. boosted its holdings in BCE by 31.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,349 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 320 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in BCE in the fourth quarter valued at approximately $65,000. Finally, Cerebellum GP LLC acquired a new position in BCE in the fourth quarter valued at approximately $81,000. Hedge funds and other institutional investors own 43.90% of the company’s stock.
BCE has been the subject of a number of research analyst reports. Zacks Investment Research downgraded BCE from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. National Bank Financial downgraded BCE from an “outperform” rating to a “sector perform” rating in a report on Friday, January 4th. Argus raised BCE from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Friday, March 8th. Finally, BMO Capital Markets reaffirmed an “average” rating and issued a $62.00 price target on shares of BCE in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $50.25.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, February 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.19 billion. BCE had a return on equity of 18.87% and a net margin of 12.30%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. Research analysts predict that BCE Inc. will post 2.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be issued a $0.604 dividend. This is an increase from BCE’s previous quarterly dividend of $0.57. This represents a $2.42 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend is Thursday, March 14th. BCE’s dividend payout ratio is presently 87.82%.
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BCE Company Profile
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 integrated digital wireless voice and data communications products and services.
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