Euro Pacific Asset Management LLC Purchases 58,845 Shares of BCE, Inc. $BCE

Key Points

• Euro Pacific Asset Management LLC increased its stake in BCE, Inc. by 90.8%, acquiring 58,845 additional shares during the 2nd quarter, bringing their total holdings to 123,651 shares valued at approximately $2.74 million.
• BCE reported a miss on earnings with $0.46 EPS for the quarter, falling short of the expected $0.52, alongside revenues of $4.47 billion against an estimate of $5.91 billion.
• The company has announced a quarterly dividend of $0.4375, translating to an annualized yield of 7.5%, while facing a high dividend payout ratio of approximately 437.93%.

Euro Pacific Asset Management LLC raised its position in shares of BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 90.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,651 shares of the utilities provider's stock after buying an additional 58,845 shares during the quarter. Euro Pacific Asset Management LLC's holdings in BCE were worth $2,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hilltop National Bank purchased a new position in BCE during the 2nd quarter valued at about $28,000. Gold Investment Management Ltd. grew its holdings in BCE by 5.8% in the second quarter. Gold Investment Management Ltd. now owns 136,765 shares of the utilities provider's stock worth $3,033,000 after purchasing an additional 7,519 shares during the period. Old Port Advisors increased its stake in shares of BCE by 35.4% during the second quarter. Old Port Advisors now owns 61,868 shares of the utilities provider's stock valued at $1,372,000 after purchasing an additional 16,185 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of BCE by 29.9% during the second quarter. Public Employees Retirement System of Ohio now owns 520,542 shares of the utilities provider's stock valued at $11,529,000 after purchasing an additional 119,793 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in shares of BCE during the second quarter valued at approximately $590,000. 41.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BCE has been the topic of several recent research reports. TD Securities restated a "hold" rating on shares of BCE in a research note on Friday, August 8th. Cibc World Mkts cut shares of BCE from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. National Bankshares reiterated an "outperform" rating on shares of BCE in a report on Friday, August 15th. Weiss Ratings reissued a "sell (d+)" rating on shares of BCE in a research report on Saturday, September 27th. Finally, Desjardins raised BCE from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $32.50.

BCE Stock Up 0.6%

BCE opened at $23.37 on Monday. The stock has a market capitalization of $21.79 billion, a price-to-earnings ratio of 80.57, a PEG ratio of 3.94 and a beta of 0.63. The firm has a 50 day moving average price of $24.15 and a 200-day moving average price of $22.95. BCE, Inc. has a twelve month low of $20.28 and a twelve month high of $33.91. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 2.17.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.06). The company 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 company's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm posted $0.78 EPS. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. Equities research analysts forecast that BCE, Inc. will post 1.94 earnings per share for the current year.

BCE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued 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 7.5%. BCE's dividend payout ratio is currently 437.93%.

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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