1832 Asset Management L.P. Boosts Stake in BCE, Inc. $BCE

Key Points

• 1832 Asset Management L.P. increased its ownership in BCE, Inc. by 11.1%, holding approximately 1,255,673 shares valued at $28.83 million.
• BCE recently reported a miss in earnings, with $0.46 EPS compared to a consensus estimate of $0.52, and projected FY 2025 EPS guidance between 1.910-1.980.
• The company's dividend payout ratio is exceptionally high at 437.93%, reflecting challenges in maintaining dividend payments amid recent earnings performance.

1832 Asset Management L.P. lifted its holdings in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 11.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,255,673 shares of the utilities provider's stock after acquiring an additional 125,748 shares during the period. 1832 Asset Management L.P. owned 0.14% of BCE worth $28,830,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BCE. Fiduciary Alliance LLC boosted its position in shares of BCE by 5.2% during the first quarter. Fiduciary Alliance LLC now owns 10,448 shares of the utilities provider's stock worth $240,000 after acquiring an additional 519 shares during the last quarter. Transcend Capital Advisors LLC grew its position in shares of BCE by 7.8% during the first quarter. Transcend Capital Advisors LLC now owns 11,332 shares of the utilities provider's stock valued at $260,000 after purchasing an additional 816 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of BCE by 10.3% in the first quarter. Kingsview Wealth Management LLC now owns 9,776 shares of the utilities provider's stock worth $224,000 after purchasing an additional 916 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of BCE by 10.2% in the first quarter. Townsquare Capital LLC now owns 11,131 shares of the utilities provider's stock worth $256,000 after purchasing an additional 1,029 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of BCE in the fourth quarter worth about $26,000. Institutional investors own 41.46% of the company's stock.

BCE Trading Down 0.6%

BCE stock traded down $0.16 during mid-day trading on Thursday, reaching $24.83. The company had a trading volume of 2,340,983 shares, compared to its average volume of 3,300,036. The company has a market capitalization of $23.15 billion, a PE ratio of 85.61, a price-to-earnings-growth ratio of 4.18 and a beta of 0.62. The firm has a 50 day moving average of $23.82 and a 200 day moving average of $22.94. BCE, Inc. has a 12 month low of $20.28 and a 12 month high of $36.17. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.61 and a quick ratio of 0.57.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.06). The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $5.91 billion. BCE had a return on equity of 18.89% and a net margin of 1.96%.The firm's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. On average, equities analysts predict that BCE, Inc. will post 1.94 earnings per share for the current fiscal year.

BCE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.4375 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.75 dividend on an annualized basis and a yield of 7.0%. BCE's dividend payout ratio is 437.93%.

Wall Street Analysts Forecast Growth

BCE has been the topic of a number of research reports. Scotiabank raised BCE from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, June 2nd. Cibc World Mkts cut shares of BCE from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada restated a "sector perform" rating and issued a $35.00 target price on shares of BCE in a report on Wednesday, May 14th. National Bankshares reiterated an "outperform" rating on shares of BCE in a research report on Friday, August 15th. Finally, TD Securities reaffirmed a "hold" rating on shares of BCE in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, BCE currently has a consensus rating of "Hold" and an average price target of $38.67.

BCE Company Profile

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.