SouthState Corp Makes New Investment in BCE Inc. (NYSE:BCE)

SouthState Corp bought a new stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,890 shares of the utilities provider’s stock, valued at approximately $95,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advanced Research Investment Solutions LLC purchased a new position in shares of BCE during the 3rd quarter worth about $30,000. Tompkins Financial Corp purchased a new stake in shares of BCE in the 3rd quarter valued at $30,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of BCE by 1,142.9% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 609 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 560 shares during the last quarter. Ancora Advisors LLC lifted its stake in shares of BCE by 83.1% in the 2nd quarter. Ancora Advisors LLC now owns 758 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 344 shares during the period. Finally, Kempen Capital Management N.V. raised its position in BCE by 40.8% during the second quarter. Kempen Capital Management N.V. now owns 1,260 shares of the utilities provider’s stock worth $95,000 after acquiring an additional 365 shares during the period. 43.12% of the stock is owned by institutional investors.

Several brokerages have weighed in on BCE. Desjardins increased their target price on shares of BCE from C$64.00 to C$66.00 and gave the stock a “hold” rating in a research note on Monday, November 8th. Scotiabank lifted their price objective on shares of BCE from C$66.00 to C$68.00 and gave the company an “outperform” rating in a research report on Friday, November 5th. TD Securities downgraded BCE from a “buy” rating to a “hold” rating and cut their price target for the stock from $70.00 to $67.00 in a research note on Friday, November 5th. Barclays restated a “hold” rating and issued a C$60.00 price target on shares of BCE in a report on Wednesday, December 8th. Finally, CIBC upped their price target on BCE from C$64.00 to C$65.00 and gave the stock a “neutral” rating in a report on Friday, November 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.41.

Shares of BCE opened at $52.93 on Friday. BCE Inc. has a one year low of $42.34 and a one year high of $53.13. The stock has a 50-day moving average of $51.41 and a 200-day moving average of $50.94. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.94 and a quick ratio of 0.89. The company has a market cap of $48.11 billion, a PE ratio of 20.44, a P/E/G ratio of 4.64 and a beta of 0.47.

BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, November 4th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.94 billion. BCE had a net margin of 13.13% and a return on equity of 16.49%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. Analysts expect that BCE Inc. will post 2.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, January 15th. Investors of record on Wednesday, December 15th will be given a dividend of $0.7047 per share. This is an increase from BCE’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 14th. This represents a $2.82 dividend on an annualized basis and a yield of 5.33%. BCE’s dividend payout ratio is 104.63%.

About BCE

BCE, Inc is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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