Renaissance Technologies LLC Purchases 62,698 Shares of BCE, Inc. $BCE

Renaissance Technologies LLC lifted its position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 501.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,198 shares of the utilities provider’s stock after buying an additional 62,698 shares during the period. Renaissance Technologies LLC’s holdings in BCE were worth $1,898,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BCE. Caitong International Asset Management Co. Ltd raised its position in BCE by 735.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,161 shares of the utilities provider’s stock valued at $27,000 after buying an additional 1,022 shares during the last quarter. Employees Retirement System of Texas acquired a new position in BCE during the 4th quarter worth approximately $28,000. Ascentis Independent Advisors bought a new position in shares of BCE during the 1st quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its stake in shares of BCE by 1,642.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,411 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 1,330 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new stake in shares of BCE in the fourth quarter valued at approximately $60,000. 41.46% of the stock is currently owned by institutional investors.

BCE Price Performance

Shares of NYSE BCE opened at $23.36 on Wednesday. The business’s 50 day moving average price is $22.48 and its two-hundred day moving average price is $24.12. The company has a market cap of $21.78 billion, a PE ratio of 4.78 and a beta of 0.51. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.79. BCE, Inc. has a twelve month low of $20.87 and a twelve month high of $26.52.

BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. BCE had a return on equity of 12.90% and a net margin of 25.49%.The company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.35 billion. BCE has set its FY 2026 guidance at 1.798-1.919 EPS. On average, analysts predict that BCE, Inc. will post 1.84 EPS for the current year.

BCE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.4375 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.75 annualized dividend and a yield of 7.5%. BCE’s dividend payout ratio (DPR) is currently 25.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays cut their price objective on shares of BCE from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Raymond James Financial assumed coverage on shares of BCE in a research note on Wednesday, July 15th. They issued a “market perform” rating on the stock. Bank of America raised shares of BCE from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $24.50 to $27.00 in a research report on Tuesday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of BCE in a research note on Friday, July 10th. Finally, TD Securities upgraded BCE from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.25.

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.