Two Sigma Investments LP purchased a new position in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 46,393 shares of the utilities provider's stock, valued at approximately $1,075,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barclays PLC raised its holdings in BCE by 78.5% during the third quarter. Barclays PLC now owns 120,462 shares of the utilities provider's stock worth $4,192,000 after purchasing an additional 52,966 shares in the last quarter. Tobam lifted its stake in BCE by 198.0% in the 4th quarter. Tobam now owns 71,971 shares of the utilities provider's stock valued at $1,668,000 after buying an additional 47,816 shares in the last quarter. US Bancorp DE lifted its position in shares of BCE by 154.8% in the fourth quarter. US Bancorp DE now owns 52,027 shares of the utilities provider's stock valued at $1,206,000 after acquiring an additional 31,607 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of BCE during the 4th quarter worth about $8,233,000. Finally, Capital Advisors Inc. OK boosted its position in BCE by 9.5% during the fourth quarter. Capital Advisors Inc. OK now owns 562,433 shares of the utilities provider's stock worth $13,037,000 after acquiring an additional 48,997 shares during the last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. National Bankshares reissued a "sector perform" rating on shares of BCE in a research note on Tuesday, March 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $35.00 price target on shares of BCE in a report on Wednesday, May 14th. Scotiabank raised shares of BCE from a "sector perform" rating to a "sector outperform" rating in a research report on Monday. JPMorgan Chase & Co. cut BCE from a "neutral" rating to an "underweight" rating in a research note on Friday, February 7th. Finally, National Bank Financial raised shares of BCE from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, BCE presently has an average rating of "Hold" and an average target price of $38.67.
Read Our Latest Report on BCE
BCE Stock Down 0.5%
Shares of BCE stock opened at $21.86 on Friday. BCE Inc. has a twelve month low of $20.28 and a twelve month high of $36.17. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The business's 50 day simple moving average is $21.74 and its 200-day simple moving average is $23.29. The stock has a market capitalization of $20.38 billion, a price-to-earnings ratio of 182.13, a PEG ratio of 4.13 and a beta of 0.61.
BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.04. BCE had a return on equity of 17.89% and a net margin of 0.99%. The company had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts forecast that BCE Inc. will post 1.94 earnings per share for the current year.
About BCE
(
Free Report)
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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