BCE, Inc. $BCE Stock Position Decreased by Addenda Capital Inc.

Key Points

• Addenda Capital Inc. reduced its stake in BCE, Inc. by 28.5%, holding 487,205 shares valued at approximately $10.8 million after selling 194,134 shares in the second quarter.
• BCE reported earnings per share of $0.46, which missed the consensus estimate of $0.52, and had a revenue decline compared to expectations, totaling $4.47 billion against a consensus of $5.91 billion.
• The company declared a quarterly dividend of $0.4375, representing a 7.6% dividend yield, with a notably high dividend payout ratio of 437.93%.

Addenda Capital Inc. trimmed its stake in shares of BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 28.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 487,205 shares of the utilities provider's stock after selling 194,134 shares during the period. Addenda Capital Inc. owned about 0.05% of BCE worth $10,801,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Two Sigma Investments LP purchased a new stake in BCE in the 4th quarter worth about $1,075,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of BCE by 143.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 104,540 shares of the utilities provider's stock worth $2,423,000 after acquiring an additional 61,658 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of BCE by 67.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,310 shares of the utilities provider's stock valued at $76,000 after buying an additional 1,329 shares in the last quarter. Versant Capital Management Inc grew its position in BCE by 722.4% in the first quarter. Versant Capital Management Inc now owns 9,236 shares of the utilities provider's stock worth $212,000 after acquiring an additional 8,113 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its position in 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 buying an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Stock Up 0.3%

Shares of BCE opened at $23.11 on Friday. The business's fifty day moving average price is $24.25 and its two-hundred day moving average price is $22.96. The firm has a market capitalization of $21.55 billion, a price-to-earnings ratio of 79.69, a PEG ratio of 3.90 and a beta of 0.63. BCE, Inc. has a 52 week low of $20.28 and a 52 week high of $35.28. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.57 and a current ratio of 0.61.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last issued its earnings results 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). BCE had a net margin of 1.96% and a return on equity of 18.89%. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $0.78 EPS. The firm's revenue for the quarter was up 1.3% compared to the same quarter last year. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. On average, analysts predict that BCE, Inc. will post 1.94 earnings per share for the current year.

BCE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Monday, September 15th. BCE's dividend payout ratio (DPR) is currently 437.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BCE shares. Cibc World Mkts lowered BCE from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Desjardins upgraded shares of BCE from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. TD Securities reissued a "hold" rating on shares of BCE in a research note on Friday, August 8th. CIBC reissued a "neutral" rating on shares of BCE in a report on Friday, August 22nd. Finally, National Bankshares reaffirmed an "outperform" rating on shares of BCE in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.50.

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.

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