The Manufacturers Life Insurance Company grew its stake in shares of BCE, Inc. (NYSE:BCE – Free Report) (TSE:BCE) by 21.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,038,362 shares of the utilities provider’s stock after acquiring an additional 897,141 shares during the period. The Manufacturers Life Insurance Company’s holdings in BCE were worth $127,011,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of BCE by 735.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,161 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 1,022 shares during the period. Employees Retirement System of Texas bought a new stake in BCE during the 4th quarter worth approximately $28,000. Ascentis Independent Advisors bought a new stake in BCE during the 1st quarter worth approximately $33,000. Smartleaf Asset Management LLC lifted its stake in BCE by 1,642.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,411 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new stake in BCE in the 4th quarter worth approximately $60,000. 41.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Barclays reduced their price target on shares of BCE from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. TD Securities upgraded BCE from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Raymond James Financial assumed coverage on BCE in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of BCE in a research report on Friday, May 29th. Finally, Zacks Research lowered BCE from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.00.
BCE Stock Up 2.7%
BCE opened at $21.80 on Wednesday. The stock has a market cap of $20.33 billion, a PE ratio of 4.43 and a beta of 0.52. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.84. BCE, Inc. has a 52 week low of $20.87 and a 52 week high of $26.52. The business’s fifty day simple moving average is $22.98 and its 200 day simple moving average is $24.25.
BCE (NYSE:BCE – Get Free Report) (TSE:BCE) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. BCE had a return on equity of 13.87% and a net margin of 25.66%.The firm had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. BCE has set its FY 2026 guidance at 1.790-1.910 EPS. As a group, research analysts expect that BCE, Inc. will post 1.85 earnings per share for the current fiscal year.
BCE Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, June 15th were given a $0.4375 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a yield of 8.0%. BCE’s payout ratio is presently 25.81%.
About BCE
BCE Inc (NYSE: BCE) is a Canadian communications, media and entertainment company that operates through its primary subsidiaries, including Bell Canada and Bell Media. As a large integrated telecommunications provider, BCE delivers a broad range of connectivity services and content to residential, business and wholesale customers across Canada. The company combines network infrastructure with media assets to offer bundled communications and entertainment solutions.
On the services side, BCE provides fixed-line and wireless voice services, mobile data, high-speed internet, fibre and broadband access, and television services through platforms such as Bell Fibe and Bell TV.
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