BCE Inc. (NYSE:BCE) Stock Holdings Increased by Gold Investment Management Ltd.

Gold Investment Management Ltd. raised its holdings in BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,715 shares of the utilities provider’s stock after acquiring an additional 2,498 shares during the quarter. BCE comprises approximately 1.4% of Gold Investment Management Ltd.’s holdings, making the stock its 23rd largest position. Gold Investment Management Ltd.’s holdings in BCE were worth $3,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BCE. Leo Wealth LLC bought a new stake in BCE in the 4th quarter valued at $1,183,000. UBS Group AG raised its position in shares of BCE by 32.6% in the 4th quarter. UBS Group AG now owns 862,951 shares of the utilities provider’s stock valued at $33,983,000 after acquiring an additional 212,047 shares during the period. FIL Ltd increased its stake in BCE by 18.8% during the 4th quarter. FIL Ltd now owns 14,007,515 shares of the utilities provider’s stock worth $551,505,000 after purchasing an additional 2,217,262 shares in the last quarter. Wellington Management Group LLP increased its stake in BCE by 57.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,318,302 shares of the utilities provider’s stock worth $88,908,000 after purchasing an additional 843,626 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in shares of BCE during the 4th quarter worth approximately $338,000. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Price Performance

Shares of BCE stock traded up $0.23 during trading on Wednesday, hitting $31.77. 1,845,608 shares of the stock traded hands, compared to its average volume of 2,344,899. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.87. The stock has a market cap of $28.98 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 5.31 and a beta of 0.57. The firm’s fifty day moving average is $33.29 and its 200-day moving average is $35.58. BCE Inc. has a 52 week low of $31.13 and a 52 week high of $45.19.

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. BCE had a return on equity of 16.86% and a net margin of 7.53%. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Research analysts expect that BCE Inc. will post 2.2 EPS for the current fiscal year.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a $0.738 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.95 annualized dividend and a dividend yield of 9.29%. BCE’s payout ratio is 201.39%.

Wall Street Analyst Weigh In

BCE has been the subject of several research reports. CIBC raised BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, April 23rd. Barclays decreased their target price on BCE from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. Finally, BMO Capital Markets boosted their price target on BCE from $46.00 to $47.00 and gave the stock a “market perform” rating in a report on Wednesday, June 12th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.25.

Check Out Our Latest Stock Report on BCE

BCE Company Profile

(Free Report)

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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