BCE Inc. (NYSE:BCE) Stake Decreased by Gradient Investments LLC

Gradient Investments LLC lessened its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 12.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,390 shares of the utilities provider’s stock after selling 4,376 shares during the period. Gradient Investments LLC’s holdings in BCE were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in BCE during the second quarter worth approximately $25,000. Carroll Financial Associates Inc. grew its position in BCE by 155.3% in the third quarter. Carroll Financial Associates Inc. now owns 697 shares of the utilities provider’s stock worth $33,000 after buying an additional 424 shares during the last quarter. Lindbrook Capital LLC grew its position in BCE by 72.9% during the 2nd quarter. Lindbrook Capital LLC now owns 854 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 360 shares in the last quarter. Griffin Asset Management Inc. purchased a new position in BCE during the 2nd quarter worth approximately $51,000. Finally, Putnam FL Investment Management Co. purchased a new position in BCE during the 2nd quarter worth approximately $57,000. 43.85% of the stock is currently owned by institutional investors.

Several research firms have recently commented on BCE. Scotiabank restated a “buy” rating on shares of BCE in a report on Friday, August 16th. TD Securities boosted their price target on shares of BCE from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. National Bank Financial upgraded shares of BCE from a “sector perform” rating to an “outperform” rating in a report on Friday, September 20th. Desjardins lowered shares of BCE to a “hold” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered shares of BCE from an “overweight” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research note on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $59.33.

NYSE:BCE opened at $49.44 on Friday. The company has a market cap of $43.78 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 5.17 and a beta of 0.39. The firm’s 50-day moving average is $47.86 and its 200-day moving average is $46.02. BCE Inc. has a 52-week low of $38.75 and a 52-week high of $49.30. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.53 and a current ratio of 0.57.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.90 billion. BCE had a net margin of 12.51% and a return on equity of 19.15%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Equities analysts predict that BCE Inc. will post 2.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $0.601 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.40 dividend on an annualized basis and a yield of 4.86%. This is a boost from BCE’s previous quarterly dividend of $0.59. BCE’s payout ratio is presently 87.82%.

BCE Company Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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