Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 184.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,993,028 shares of the utilities provider’s stock after buying an additional 2,588,027 shares during the quarter. BCE accounts for approximately 1.1% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 21st biggest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.44% of BCE worth $157,669,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of BCE. Proficio Capital Partners LLC boosted its position in BCE by 145.0% during the fourth quarter. Proficio Capital Partners LLC now owns 990 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 586 shares during the last quarter. Cutler Group LP acquired a new stake in BCE during the fourth quarter valued at $43,000. Legacy Financial Advisors Inc. boosted its position in BCE by 31.1% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,349 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 320 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new stake in BCE during the fourth quarter valued at $65,000. Finally, Cerebellum GP LLC acquired a new stake in BCE during the fourth quarter valued at $81,000. Institutional investors and hedge funds own 42.89% of the company’s stock.
A number of analysts recently issued reports on BCE shares. Zacks Investment Research cut BCE from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. National Bank Financial cut BCE from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $45.50.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, February 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.19 billion. BCE had a return on equity of 18.87% and a net margin of 12.30%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, analysts predict that BCE Inc. will post 2.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a $0.604 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 5.51%. This is a boost from BCE’s previous quarterly dividend of $0.57. BCE’s payout ratio is currently 83.39%.
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.
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