BCE, Inc. $BCE Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in BCE, Inc. by 170.7% during the first quarter, owning approximately 1.25% of the company worth $268.16 million.
• BCE reported an EPS of $0.46 for the last quarter, falling short of the consensus estimate of $0.52, with revenues of $4.47 billion compared to expectations of $5.91 billion.
• The company announced a quarterly dividend of $0.4375, providing an annualized yield of 7.2%, with a dividend payout ratio of 434.48%.

Goldman Sachs Group Inc. lifted its stake in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 170.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,679,620 shares of the utilities provider's stock after buying an additional 7,365,253 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.25% of BCE worth $268,164,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in BCE during the fourth quarter worth approximately $26,000. SVB Wealth LLC acquired a new stake in BCE during the first quarter worth $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of BCE during the first quarter worth $47,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of BCE by 67.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 3,310 shares of the utilities provider's stock worth $76,000 after buying an additional 1,329 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of BCE during the first quarter worth $88,000. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Price Performance

Shares of NYSE:BCE opened at $24.21 on Wednesday. The business's 50 day simple moving average is $24.29 and its 200-day simple moving average is $23.01. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of 83.47, a price-to-earnings-growth ratio of 4.11 and a beta of 0.63. 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, Inc. has a 12 month low of $20.28 and a 12 month high of $36.17.

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

BCE Announces Dividend

The business also recently announced 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 7.2%. BCE's dividend payout ratio is presently 434.48%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BCE. National Bankshares reiterated an "outperform" rating on shares of BCE in a report on Friday, August 15th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $35.00 price target on shares of BCE in a report on Wednesday, May 14th. TD Securities reiterated a "hold" rating on shares of BCE in a research report on Friday, August 8th. CIBC reiterated a "neutral" rating on shares of BCE in a research report on Friday, August 22nd. Finally, Desjardins upgraded BCE from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. One equities research 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 MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $38.67.

BCE 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.

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