BCE (NYSE:BCE) Stock, Quote.Headers.trade-ideas

BCE provides wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with over 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrier—the legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provinces: Ontario and Quebec. Additionally, BCE has a media segment, which holds television, radio, and digital media assets. BCE licenses the Canadian rights to movie channels including HBO, Showtime, and Starz.

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Earnings are arguably the most important single number on a company&#39;s quarterly financial report. Wall Street clearly dives into all of the other metrics and management&#39;s input, but the EPS figure helps cut through all the noise.

Why Investors Need to Take Advantage of These 2 Utilities Stocks Now

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Disney CEO Bob Iger is eyeing an investment in a popular women&#39;s soccer team.

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BCE Inc&#39;s (NYSE: BCE) subsidiary Bell Media recently collaborated with TikTok to unveil Pulse Premiere in Canada.


BCE Subsidiary Bell Media Partners TikTok for Pulse Premiere

BCE Inc

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Barclays analyst Kannan Venkateshwar maintains BCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) with a Equal-Weight and lowers the price target from $35 to $34.

Price Target

Barclays Maintains Equal-Weight on BCE, Lowers Price Target to $34

<ul>
<li>The acquisition combines the expertise of both companies to offer a comprehensive suite of ServiceNow capabilities, powering North American businesses' IT transformation with digital workflow automation.</li>
<li>HGC Technologies brings application development, HR service management, and a strong North American talent base to FX Innovation, strategically positioning FX Innovation for growth in the U.S. market.</li>
</ul>
MONTRÉAL, Oct. 9, 2024 /CNW/ - FX Innovation, a Bell Canada company, announced today the acquisition of HGC Technologies (HGC), an Elite ServiceNow partner. Based in Montréal, with Canadian and American operations, HGC has a proven track record of helping clients maximize their business impact with the ServiceNow digital workflow platform. With customized integrations of the platform into their clients' own ecosystems, they help accelerate results.

FX Innovation, A Bell Canada Company, Announced Today The Acquisition Of HGC Technologies, Uniting Canada's ServiceNow Experts, Reinforcing A Comprehensive ServiceNow Centre Of Excellence With A Complete Suite Of Enterprise-Ready Capabilities

– Enhanced agreement broadens Bell Media and&nbsp;Warner Bros. Discovery's content pact and extends Crave as the exclusive Canadian home of HBO and Max Originals–
– &nbsp;Deal includes co-development and Canadian content licensing commitment –
TORONTO, Oct. 8, 2024 /PRNewswire/ - Bell Media announced today it has expanded its landmark partnership with Warner Bros. Discovery for the Canadian market, extending Crave for multiple years as the exclusive home of HBO and Max content. The expansion of Bell Media's existing licensing agreement with Warner Bros. Discovery, <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4273155-1&amp;h=2269823370&amp;u=https%3A%2F%2Fwww.bellmedia.ca%2Fthe-lede%2Fpress%2Fbell-media-announces-unprecedented-sweeping-content-pact-with-warner-bros-discovery%2F&amp;a=announced+in+2023">announced in 2023</a>, ensures Crave subscribers have continued access to a vast library of premium content for the foreseeable future.
The new agreement also includes a co-production commitment for original Canadian content with global appeal, licensing of Bell Media original content for use on Warner Bros. Discovery platforms outside of Canada, and extended access to French-language content for use on Bell Media platforms.

Global

Bell Media and Warner Bros. Discovery Expand Partnership In Canada, Broadening Bell Media And Warner Bros. Discovery's Content Pact And Extends Crave As The Exclusive Canadian Home Of HBO And Max Originals;  Deal Includes Co-Development And Canadian Content Licensing Commitment

TD Securities analyst Vince Valentini maintains BCE (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BCE#TSX">BCE</a>) with a Hold and lowers the price target from C$51 to C$50.

TSX:BCE

TD Securities Maintains Hold on BCE, Lowers Price Target to C$50

TD Securities analyst Vince Valentini maintains BCE (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BCE#TSX">BCE</a>) with a Hold and raises the price target from C$50 to C$51.

TD Securities Maintains Hold on BCE, Raises Price Target to C$51

BMO Capital analyst Tim Casey maintains BCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) with a Market Perform and raises the price target from $48 to $51.

BMO Capital Maintains Market Perform on BCE, Raises Price Target to $51

RBC Capital analyst Drew McReynolds maintains BCE (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BCE#TSX">BCE</a>) with a Sector Perform and raises the price target from C$51 to C$53.

RBC Capital Maintains Sector Perform on BCE, Raises Price Target to C$53

WIIM

BCE shares are trading higher after the company announced it reached an agreement to sell its ownership stake in MLSE for CA$4.7 billion to Rogers Communications.

<ul>
<li>BCE sells its stake in Maple Leaf Sports and Entertainment (MLSE) for CA$4.7 billion</li>
<li>Long-term content rights agreement ensures TSN's place as Canada's Sports Leader</li>
<li>TSN to remain home of Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts and Toronto FC games</li>
<li>Bell remains official telecom sponsor of the Toronto Raptors, and continues sponsorships of Toronto Argonauts and Toronto FC&nbsp;</li>
</ul>
MONTRÉAL, Sept. 18, 2024 /CNW/ - BCE Inc. today announced that it has reached an agreement to sell its ownership stake in&nbsp;MLSE for CA$4.7 billion to Rogers Communications Inc. ("Rogers"), subject to relevant sports league and other customary approvals. The transaction is expected to close in mid-2025. BCE currently intends to direct proceeds of this sale towards reducing debt levels and to support its ongoing transformation from telco to techco with a focus on core growth drivers.

Asset Sales

BCE Sells Its Stake In Maple Leaf Sports And Entertainment For CAD$4.7 Billion

Signs agreement to buy out Bell&#39;s 37.5% ownership stake in MLSE
&nbsp;
Will invest to bring championships to Canada
Sportsnet will continue to broadcast 50% of Maple Leafs regional games and 50% of Raptors games controlled by MLSE

Rogers To Buy Bell's 37.5% Ownership Stake In Maple Leaf Sports & Entertainment For C$4.7B

Canada Telecom Regulator To Require BCE, Telus, And Sasktel To Provide Rivals With Wholesale Access To Fiber-Optic Networks

OUTLOOK FOR 2024
BCE confirmed its financial guidance targets for 2024, as provided on February 8, 2024, as follows:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2023 Results</td>
<td colspan="1" rowspan="1">2024 Guidance</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Revenue growth</td>
<td colspan="1" rowspan="1">2.1&nbsp;%</td>
<td colspan="1" rowspan="1">0% to 4%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EBITDA growth</td>
<td colspan="1" rowspan="1">2.1&nbsp;%</td>
<td colspan="1" rowspan="1">1.5% to 4.5%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Capital intensity</td>
<td colspan="1" rowspan="1">18.6&nbsp;%</td>
<td colspan="1" rowspan="1">Below 16.5%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EPS growth</td>
<td colspan="1" rowspan="1">(4.2&nbsp;%)</td>
<td colspan="1" rowspan="1">(7%) to (2%)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Free cash flow growth</td>
<td colspan="1" rowspan="1">2.5&nbsp;%</td>
<td colspan="1" rowspan="1">(11%) to (3%)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Annualized common dividend per share</td>
<td colspan="1" rowspan="1">$3.87</td>
<td colspan="1" rowspan="1">$3.99</td>
</tr>
</tbody>
</table>
</figure>
Directly as a result of federal government policies, we plan a significant reduction in 2024 capital expenditures that will lead to a slowdown in our pure fibre build and lower spending in highly-regulated businesses. We expect increased interest expense, higher depreciation and amortization expense, and lower gains on sale of real estate to drive lower adjusted EPS in 2024. For 2024, we also expect higher severance payments related to workforce restructuring initiatives, higher interest paid and lower cash from working capital to drive lower free cash flow.
Please see the section entitled "Caution Regarding Forward-Looking Statements" later in this news release for a description of the principal assumptions on which BCE's 2024 financial guidance targets are based, as well as the principal related risk factors.

Guidance

BCE Sees FY24 Revenue Growth Of 0%-4%; Adjusted EPS Growth Of (7%)-(2%)

BCE Q2 2024 Adj. EPS CAD$0.78, Inline, Sales CAD$6.01B Miss CAD$6.07B Estimate

Earnings are arguably the most important single number on a company&#39;s quarterly financial report. Wall Street clearly dives into all of the other metrics and management&#39;s input, but the EPS figure helps cut through all the noise.
The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.
Hunting for &#39;earnings whispers&#39; or companies poised to beat their quarterly earnings estimates is a somewhat common practice. But that doesn&#39;t make it easy. One way that has been proven to work is by using the Zacks Earnings ESP tool.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.
Now that we understand the basic idea, let&#39;s look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
Bringing together a positive earnings ESP alongside a Zacks Rank #3 (Hold) or better has helped stocks report a positive earnings surprise 70% of the time. Furthermore, by using these parameters, investors have seen 28.3% annual returns on average, according to our 10 year backtest.
Stocks with a #3 (Hold) ranking, which is most stocks covered at 60%, are expected to perform in-line with the broader market. But stocks that fall into the #2 (Buy) and #1 (Strong Buy) ranking, or the top 15% and top 5% of stocks, respectively, should outperform the market. Strong Buy stocks should outperform more than any other rank.
Should You Consider NextEra Energy?
The final step today is to look at a stock that meets our ESP qualifications. NextEra Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nee#NYSE">NEE</a>) earns a #3 (Hold) two days from its next quarterly earnings release on July 24, 2024, and its Most Accurate Estimate comes in at $0.94 a share.
By taking the percentage difference between the $0.94 Most Accurate Estimate and the $0.93 Zacks Consensus Estimate, NextEra Energy has an Earnings ESP of +1.44%. Investors should also know that NEE is one of a large group of stocks with positive ESPs.
NEE is just one of a large group of Utilities stocks with a positive ESP figure. BCE (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bce#NYSE">BCE</a>) is another qualifying stock you may want to consider.
BCE, which is readying to report earnings on August 1, 2024, sits at a Zacks Rank #3 (Hold) right now. It&#39;s Most Accurate Estimate is currently $0.59 a share, and BCE is 10 days out from its next earnings report.
The Zacks Consensus Estimate for BCE is $0.59, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +0.28%.
Because both stocks hold a positive Earnings ESP, NEE and BCE could potentially post earnings beats in their next reports.
<a href="https://www.zacks.com/stock/news/2305853/why-investors-need-to-take-advantage-of-these-2-utilities-stocks-now?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_earnings_esp-2305853">To read this article on Zacks.com click here.</a>

Aims To Lead In Digital Transformation And Automation For Medium And Large Enterprises With AI-Powered Solutions And Canada's Best Network

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The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) CEO Bob Iger rejoined the company in the CEO role in<a href="https://www.benzinga.com/general/entertainment/22/11/29798775/bob-iger-returns-as-disney-ceo-after-reports-of-growing-rift-with-bob-chapek"> November 2022.</a>
In addition to leading Disney, Iger may soon add sports team owner to his list of titles.
What Happened: Disney is<a href="https://www.benzinga.com/sports"> no stranger to sports </a>with its ESPN brand and previous ownership of the Anaheim Mighty Ducks (NHL) and Anaheim Angels (MLB). The company's CEO is nearing a deal to acquire a stake in women's soccer team Angel City, which competes in the National Women's Soccer League (NWSL).
Angel City would be valued at $300 million in the deal, according to a <a href="https://www.semafor.com/article/07/02/2024/disney-ceo-bob-iger-and-willow-bay-to-by-soccer-team">report </a>from Semafor. This would make the team the most valuable women's sports team in the world.
Iger and his wife Willow Bay would buy the controlling stake of Angel City FC according to the report, which would make the duo have a larger stake than <a href="https://www.benzinga.com/news/22/12/29963917/reddit-co-founder-alexis-ohanian-prints-mean-tweets-and-screenshots-how-he-uses-them-as-motivation">current controlling shareholder </a>Reddit co-founder Alexis Ohanian. 
Unlike many other sports teams, there is no majority holder of the team. The unique ownership structure may have led to recent squabbles among owners, with several of them upset over increased spending. The team hired Moelis &amp; Co to seek an investor to assume control of the team's board, as <a href="https://www.latimes.com/sports/soccer/angel-city-fc/story/2024-03-16/angel-city-seeking-new-owner-for-controlling-stake-of-franchise">reported </a>by the Los Angeles Times.
The Bay-Iger group will invest at least $50 million in the team, according to the report. Bay and Iger beat out several interested parties including former Milwaukee Bucks (NBA) owner Marc Lasry and Avie Glazer, who is a member of the Glazer family, who own soccer team Manchester United (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>), and the NFL's Tampa Bay Buccaneers.
A pitch deck from Bay and Iger shared by Semafor showed the duo highlighting their 25 years of residency in Los Angeles, ability to lead media companies and growth initiatives for the team of expanding international reach and connecting the team to big area events in Los Angeles.
Read Also: <a href="https://www.benzinga.com/m-a/24/07/39605195/going-out-on-top-boston-celtics-for-sale-after-nba-title-large-contracts-handed-to-star-players">Going Out On Top? Boston Celtics For Sale After NBA Title, Large Contracts Handed To Star Players</a>
Why It's Important: Sports teams have consistently achieved record valuations and demonstrated strong performance in recent years.
Angel City counts a handful of celebrities including Natalie Portman, America Ferrera and Eva Longoria as owners along with former soccer players Abby Wambach and Mia Hamm, and other athletes including Serena Williams and Billie Jean King. &nbsp;
Disney is among the media rights partners with the NWSL as part of an overall $240 million three-year <a href="https://www.nwslsoccer.com/news/nwsl-announces-landmark-media-partnerships-with-cbs-sports-espn-prime-video-and-scripps-sports">deal </a>signed in November 2023 by ESPN, Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Scripps Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSP#NASDAQ">SSP</a>). It is currently unclear how Iger's relationship with Disney and the team would impact the rights deal.
A <a href="https://www.sportico.com/feature/nwsl-soccer-team-value-ranking-1234740972/">Sportico </a>ranking of NWSL teams listed Angel City with a $180 million valuation in 2023, double the next highest team San Diego Wave, who were listed at $90 million. The Wave were sold for a then-league record $113 million earlier this year.
Angel City has an estimated $31 million in annual revenue in the Sportico ranking, which is nearly double that of San Diego at $16.3 million.
Sports teams continue to attract interest from billionaires and investors, with Jeff Bezos potentially selling Amazon shares to <a href="https://www.benzinga.com/general/sports/24/07/39621460/jeff-bezos-to-sell-5-billion-in-amazon-shares-could-he-be-raising-cash-for-seattle-seahawks-purcha">buy an NFL team.</a>
NFL star Patrick Mahomes is a <a href="https://www.benzinga.com/general/education/23/02/30870247/5-things-you-might-not-know-about-kansas-city-chiefs-qb-patrick-mahomes">co-owner of NWSL team</a> Kansas City Current.
Investors looking for <a href="https://www.benzinga.com/topic/public-sports-teams">publicly traded stocks</a> with exposure to sports ownership have limited options. A few soccer related options are Manchester United and Juventus (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JVTSF#OTC">JVTSF</a>).
Ares Management Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARES#NYSE">ARES</a>) <a href="https://www.benzinga.com/news/23/08/33602864/want-to-invest-in-lionel-messis-mls-success-theres-a-new-way-to-get-a-stake-in-inter-miami">is an investor</a> in Inter Miami, the Major League Soccer (MLS) team that landed soccer superstar Lionel Messi last year.
MLS team Toronto FC counts Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) and BCE Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) each as 37.5% team owners.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38260567/bitcoin-soccer-team-adds-winklevoss-twins-as-investors-in-english-premier-league-mission-w">Bitcoin Soccer Team Adds Winklevoss Twins As Investors In English Premier League Mission: Why Shared &#8216;Deep Conviction&#8217; In Bitcoin Is Important</a></li>
</ul>
Photo: Shutterstock

Disney CEO Bob Iger Nears Purchase Of Women's Soccer Club, Could Set Record For Priciest Women's Sports Team

Local Independent Telecom Operates In Toronto, Montreal, Vancouver, And Ottawa With Over 450 Employees

Management

Beanfield Appoints Rizwan Jamal As CEO, Effective Immediately

BMO Capital analyst Tim Casey maintains BCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) with a Market Perform and raises the price target from $46 to $47.

BMO Capital Maintains Market Perform on BCE, Raises Price Target to $47

BCE Inc&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bce#NYSE">BCE</a>) subsidiary Bell Media recently collaborated with TikTok to unveil Pulse Premiere in Canada. 
This innovative advertising solution empowers brands with the ability to exercise control and predictability in selecting the placement of their ads, ensuring they appear alongside preferred publisher partner content on TikTok&#39;s &quot;For You feed&quot;, thereby unleashing opportunistic scopes to engage with dynamic audiences and enhance brand exposure. 
Advertisements will be strategically placed next to trending content from Canada&#39;s renowned brands like BarDown, MuchMusic, ETALK, TSN and RDS, as well as content from CTV. 
The newly forged partnership paves the way for ads to be displayed adjacent to Bell Media&#39;s TikTok content. With Pulse Premiere, advertisers gain the opportunity to showcase their ads alongside Bell Media&#39;s high-engagement content across prime categories such as sports and entertainment. 
Bell Media has become the first media publisher in Canada to join Pulse Premiere, which boasts names like Sky Sports, Cond&eacute; Nast, NBCUniversal, Paramount Global, the NHL, MLB and MLS. 
BCE is a leading communications company that offers a robust spectrum of innovative products and solutions to consumers, businesses and government across Canada. 
Bell Media is in charge of managing the most popular media brands, including CTV, RDS, Crave, Discovery and Animal Planet. Apart from this, it boasts of substantial investment in Canadian content creation, such as local television, radio news, sports and entertainment programming and other original TV and film productions. It frequently partners with advertisers to facilitate connections between brands and consumers through its cutting-edge advertising technology products and various other modes of communication. 
In the last reported quarter, BCE&#39;s top line contracted 0.7% year over year to C$6,011 million ($4,458.9 million), driven by softness across the Product and Service segment. Revenues missed the consensus mark by 0.21%. 
The company, at present, reports its net sales under two segments &ndash; Bell CTS (Bell Wireless+ Bell Wireline) and Bell Media. 
Bell Media generated revenues of C$725 million, declining 7.1% year over year. The downtick was primarily attributable to lower subscriber revenues. 
BCE currently has a Zacks Rank #4 (Sell). Shares of the company have lost 25.8% in the past year compared with the sub-industry&#39;s decline of 11.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/8b/68469.jpg?v=1264842720" /> 
Image Source: Zacks Investment Research
<h3>Stocks to Consider</h3>
Arista Networks, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>), sporting a Zacks Rank #1 (Strong Buy) at present, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven and data-centric approach to help customers build their cloud architecture and enhance their cloud experience.
Arista has a long-term earnings growth expectation of 15.7% and delivered an earnings surprise of 15.4%, on average, in the trailing four quarters. 
Motorola Solutions, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/msi#NYSE">MSI</a>), carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 7.5%, on average, in the trailing four quarters. It has a long-term earnings growth expectation of 9.5%. 
Motorola provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure service providers. It develops and services both analog and digital two-way radio, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets. 
NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), sporting a Zacks Rank #1 at present, is another key pick in the broader industry. It is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, NVDA&#39;s focus has evolved from PC graphics to AI-based solutions that now support high-performance computing, gaming and virtual reality platforms.
<a href="https://www.zacks.com/stock/news/2285894/bce-subsidiary-bell-media-partners-tiktok-for-pulse-premiere?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2285894">To read this article on Zacks.com click here.</a>

Pulse Premiere Offers Advertisers Greater Control And Predictability By Placing Ads Next To Select Publisher Partner Content On The For You Feed

Bell Media Partners With TikTok To Bring Pulse Premiere To Canada

The Canadian market has been experiencing considerable growth, driven by a strengthening stock market and rising government spending. Thus, investing in fundamentally solid Canadian stocks Enbridge (ENB), BCE (BCE), and Fortis (FTS) could be wise for potential gains and reliable dividends. Keep reading... The Canadian economy is on the rise with the growing government spending, improving employee compensation, and increasing household spending. Also, its booming stock market presents favorable investment opportunities for investors.
Given this backdrop, it could be wise to invest in fundamentally strong Canadian stocks Enbridge Inc. (<a href="https://stocknews.com/stock/ENB/">ENB</a>), BCE Inc. (<a href="https://stocknews.com/stock/BCE/">BCE</a>), and Fortis Inc. (<a href="https://stocknews.com/stock/FTS/">FTS</a>) offering reliable dividends.
The recently reported statistics showed that <a href="https://www.reuters.com/world/americas/canadas-economy-grows-by-21-annualized-second-quarter-beats-forecast-2024-08-30/">Canada's economy grew faster than the anticipated levels</a> during the second quarter. The Statistics Canada data showed annualized growth of 2.1% in the quarter, above the 1.6% expectation of the markets and the 1.5% forecast by the Bank of Canada (BoC). Also, the central bank still remains on track to cut rates for a third consecutive time.
The <a href="https://www.cbc.ca/news/business/q2-gdp-2024-1.7309223">economy grew with solid household spending</a>, increasing government spending, and supported by strong wage growth in the mining and oil and gas extraction industry. Also, the central bank is likely to cut the key interest rate by another 25 basis points, bringing the rate down to 4.25%.
Further, the Canadian stock market has been on an uptrend recently, indicating an active market. The <a href="https://www.spglobal.com/spdji/en/indices/equity/sp-tsx-composite-index/#overview">S&amp;P/TSX Composite Index</a> was up by 9.23% in the last quarter. Also, the index has surged close to 21% in the previous year.
Amid these economic tailwinds, investing in certain Canadian stocks offering could be suitable for investors seeking passive income. Also, these stocks have the potential for long-term growth.
Considering the industry's optimistic outlook, investors could consider investing in fundamentally sound Canadian stocks ENB, BCE, and FTS.
Enbridge Inc. (<a href="https://stocknews.com/stock/ENB/">ENB</a>)
ENB operates as an energy infrastructure company. The company operates in five segments: Liquids Pipelines; Gas Transmission and Midstream; Gas Distribution and Storage; Renewable Power Generation; and Energy Services. It operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
On July 30, ENB's Board of Directors declared a quarterly dividend of $0.91 per common share, consistent with the June 1, 2024 dividend. The dividend was paid on September 1, 2024, to shareholders of record on August 15, 2024.
ENB pays an annual dividend of $2.69, which translates to a yield of 6.60% at the current share price. Its four-year average dividend yield is 6.95%. Moreover, the company's dividend payouts have increased at a CAGR of 4.3% over the past five years.
On June 24, ENB and Six Nations Energy Development LP (Six Nations) announced plans to advance the development of a new wind energy project southeast of Weyburn, Saskatchewan. The Project is expected to produce 200 megawatts of emissions-free power, enough to support the annual energy needs of more than 100,000 Saskatchewan homes.
During the second quarter that ended June 30, 2024, ENB's <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> rose 8.2% from the year-ago value to C$4.34 billion ($3.20 billion). Its adjusted earnings stood at C$1.25 billion ($923.14 million), or $0.58 per common share, for the quarter, respectively. In addition, the company's distributable cash flow came in at C$2.86 billion ($2.11 billion), up 2.7% from the prior year's quarter.
Analysts expect ENB's EPS for the fiscal year (ending December 2025) to grow 6.9% year-over-year to $0.59, and its revenue for the same year is expected to be $27.45 billion. Shares of ENB have surged 13.8% over the past six months and 18.6% over the past year to close the last trading session at $40.88.
ENB's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
ENB has a B grade for Momentum and Stability. It is ranked #31 out of 39 stocks in the A-rated <a href="https://stocknews.com/category/foreign-oil-gas/">Foreign Oil &amp; Gas</a> industry.
In addition to the POWR Ratings we've stated above, we also have ENB ratings for Growth, Quality, Value, and Sentiment. Get all ENB ratings <a href="https://stocknews.com/stock/ENB/">here</a>.
BCE Inc. (<a href="https://stocknews.com/stock/BCE/">BCE</a>)
BCE is a communications company that provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates through two segments, Bell Communication and Technology Services; and Bell Media.
On September 17, BCE's wholly owned Bell and MacLean, the world's largest Canadian-based manufacturer of underground mining equipment, entered a technology collaboration to support the evolving mining customers' needs. Through the partnership, companies will accelerate research and development on mining vehicle automation, autonomy, and interoperability.
The innovations introduced will improve equipment interoperability, the way how machines exchange and make use of information, enhance safety for workers, drive sustainable practices, and reduce vehicle emissions.
On July 25, Bell Canada and Hyundai Motor Group announced a multi-year extension of their strategic partnership to offer Canadian customers with advanced in-car connected infotainment services, enhancing their in-vehicle experiences.
On August 1, BCE's Board of Directors declared a quarterly dividend of $0.9975 per common share, payable on October 15, 2024, to shareholders of record at the close of business on September 16, 2024.
BCE's annual dividend of $2.94 translates to a yield of 8.38% at the current share price. Its four-year average dividend yield is 6.33%. Also, the company's dividend payouts have increased at a CAGR of 4.5% over the past five years.
For the second quarter that ended June 30, 2024, BCE reported operating revenues of $6.01 billion. Its adjusted EBITDA increased 2% from the previous year's quarter to $2.70 billion. Net income attributable to common shareholders and EPS were $537 million and $0.59, up 63.2% and 59.5% from the prior year's quarter, respectively.
Furthermore, the company's free cash flow grew 8% from the year-ago value to $1.10 billion.
Analysts expect BCE's revenue and EPS for the fiscal year (ending December 2025) to increase 0.9% and 0.9% year-over-year to $18.34 billion and $2.24, respectively.
BCE's stock has soared 1.1% over the past month and 3.8% over the past six months to close the last trading session at $35.10.
BCE's bright prospects are reflected in its POWR Ratings. The stock has an A grade for Stability. BCE is ranked #38 among 43 stocks in the A-rated <a href="https://stocknews.com/category/telecom-foreign/">Telecom - Foreign</a> industry.
<a href="https://stocknews.com/stock/BCE/">Click here</a> to access BCE's ratings for Value, Growth, Quality, Sentiment, and Momentum.
Fortis Inc. (<a href="https://stocknews.com/stock/FTS/">FTS</a>)
FTS operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. The company generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties.
On July 31, FTS' Board of Directors declared a dividend of $0.59 per share on the common shares, paid on September 1, 2024, to the shareholders of record at the close of business on August 20, 2024.
It also declared dividends on the following series of the first preference shares of the corporation: $0.31 on the Series – F, $0.38 on the Series – G, $0.11 on the Series – H, $0.40 on the Series – I, $0.30 on the Series – J, $0.34 on the Series - K, and $0.24 on the Series – M.
FTS pays an annual dividend of $1.74, which translates to a yield of 3.87% at the current share price. Its four-year average dividend yield is 3.84%. Moreover, the company's dividend payouts have increased at a CAGR of 2.8% over the past three years. FTS has raised its dividends for eight consecutive years.
FTS' adjusted net earnings increased 9.6% from the prior-year quarter to C$331 million ($244.45 million) during the second quarter that ended June 30, 2024. The company's adjusted net earnings per share came in at $0.67, indicating growth of 8.1% from the year-ago value.
Street expects FTS' revenue for the fourth quarter (ending December 2024) to increase 11.5% year-over-year to $2.39 billion. Similarly, the company's EPS is expected to grow 12.4% year-over-year to $0.60 for the same period. Furthermore, FTS has surpassed the consensus EPS estimates in each of the trailing four quarters.
FTS' stock has gained 14.4% over the past six months and 12.3% over the past year to close the last trading session at $45.01.
FTS' POWR Ratings reflect its robust outlook. The stock has a B grade for Momentum and Stability. Within the B-rated <a href="https://stocknews.com/category/utilities-foreign/">Utilities - Foreign</a> industry, FTS is ranked #45 among the 52 stocks.
<a href="https://stocknews.com/stock/FTS/">Click here</a> to access additional ratings of FTS for Sentiment, Growth, Value, and Quality.
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ENB shares were trading at $40.88 per share on Tuesday afternoon, down $0.00 (0.00%). Year-to-date, ENB has gained 19.88%, versus a 20.82% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/enb-bce-fts-3-canadian-stocks-for-reliable-dividends/>3 Canadian Stocks for Reliable Dividends</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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