Twinbeech Capital LP Acquires Shares of 83,378 BCE Inc. (NYSE:BCE)

Twinbeech Capital LP bought a new stake in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 83,378 shares of the utilities provider's stock, valued at approximately $1,933,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BCE. Two Sigma Investments LP bought a new stake in shares of BCE during the fourth quarter worth about $1,075,000. Two Sigma Advisers LP acquired a new position in BCE in the fourth quarter valued at approximately $5,665,000. Tidal Investments LLC lifted its stake in BCE by 141.8% in the fourth quarter. Tidal Investments LLC now owns 35,983 shares of the utilities provider's stock valued at $834,000 after buying an additional 21,099 shares during the period. Toronto Dominion Bank lifted its stake in BCE by 34.4% in the fourth quarter. Toronto Dominion Bank now owns 10,569,646 shares of the utilities provider's stock valued at $244,692,000 after buying an additional 2,706,839 shares during the period. Finally, Polar Asset Management Partners Inc. increased its holdings in shares of BCE by 197.0% during the fourth quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the utilities provider's stock valued at $985,000 after acquiring an additional 28,191 shares in the last quarter. Institutional investors own 41.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BCE. National Bank Financial upgraded BCE from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Royal Bank of Canada restated a "sector perform" rating and set a $35.00 price objective on shares of BCE in a report on Wednesday, May 14th. National Bankshares restated a "sector perform" rating on shares of BCE in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. downgraded BCE from a "neutral" rating to an "underweight" rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a strong buy rating to the company. According to MarketBeat, BCE currently has an average rating of "Hold" and an average price target of $38.67.

BCE Stock Performance

NYSE:BCE traded up $0.10 during trading on Tuesday, reaching $21.63. The company's stock had a trading volume of 618,428 shares, compared to its average volume of 3,321,537. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 180.21, a price-to-earnings-growth ratio of 4.13 and a beta of 0.63. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The firm has a 50 day moving average of $21.91 and a 200-day moving average of $23.55. 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 data on Thursday, May 8th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $5.92 billion. BCE had a return on equity of 17.89% and a net margin of 0.99%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. Research analysts expect that BCE Inc. will post 1.94 EPS for the current fiscal year.

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.