Scotia Capital Inc. Buys 77,884 Shares of BCE, Inc. (BCE)

Scotia Capital Inc. lifted its stake in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,190,991 shares of the utilities provider’s stock after buying an additional 77,884 shares during the period. BCE makes up approximately 2.4% of Scotia Capital Inc.’s investment portfolio, making the stock its 8th biggest holding. Scotia Capital Inc. owned 0.35% of BCE worth $143,714,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. TD Asset Management Inc. lifted its stake in shares of BCE by 3.7% during the second quarter. TD Asset Management Inc. now owns 18,546,068 shares of the utilities provider’s stock worth $833,976,000 after buying an additional 667,600 shares during the period. FMR LLC lifted its stake in shares of BCE by 13.5% during the second quarter. FMR LLC now owns 13,936,315 shares of the utilities provider’s stock worth $627,607,000 after buying an additional 1,662,207 shares during the period. Capital Research Global Investors lifted its stake in shares of BCE by 2.6% during the second quarter. Capital Research Global Investors now owns 8,878,000 shares of the utilities provider’s stock worth $399,811,000 after buying an additional 224,000 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of BCE by 6.2% during the second quarter. Great West Life Assurance Co. Can now owns 7,763,938 shares of the utilities provider’s stock worth $348,772,000 after buying an additional 453,091 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of BCE by 0.3% during the second quarter. Franklin Resources Inc. now owns 7,185,736 shares of the utilities provider’s stock worth $323,763,000 after buying an additional 22,247 shares during the period. Institutional investors and hedge funds own 42.74% of the company’s stock.

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BCE, Inc. (BCE) traded up 0.71% on Tuesday, reaching $46.92. 329,983 shares of the company were exchanged. The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 17.60 and a beta of 0.35. BCE, Inc. has a 52 week low of $41.83 and a 52 week high of $48.27. The stock has a 50-day moving average price of $47.34 and a 200 day moving average price of $45.90.

BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.65 billion. BCE had a return on equity of 21.08% and a net margin of 12.85%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. Analysts forecast that BCE, Inc. will post $2.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be paid a dividend of $0.575 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.30 dividend on an annualized basis and a yield of 4.94%. This is a boost from BCE’s previous quarterly dividend of $0.53. BCE’s dividend payout ratio is currently 93.44%.

BCE has been the subject of several research reports. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, October 4th. Barclays PLC lifted their price objective on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. BidaskClub upgraded shares of BCE from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Morgan Stanley lowered their price objective on shares of BCE from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 27th. Finally, Argus initiated coverage on shares of BCE in a research note on Tuesday, July 18th. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. BCE presently has an average rating of “Buy” and a consensus target price of $56.83.

About BCE

BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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