BCE Inc. (BCE) Stake Lowered by Gradient Investments LLC

Gradient Investments LLC lessened its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 42.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,420 shares of the utilities provider’s stock after selling 19,875 shares during the period. Gradient Investments LLC’s holdings in BCE were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of BCE. 1832 Asset Management L.P. raised its stake in shares of BCE by 7.7% during the 4th quarter. 1832 Asset Management L.P. now owns 12,433,669 shares of the utilities provider’s stock worth $491,709,000 after buying an additional 890,742 shares during the period. Bank of Nova Scotia raised its stake in shares of BCE by 6.1% during the 4th quarter. Bank of Nova Scotia now owns 8,843,663 shares of the utilities provider’s stock worth $349,650,000 after buying an additional 506,546 shares during the period. Vanguard Group Inc raised its stake in shares of BCE by 2.8% during the 3rd quarter. Vanguard Group Inc now owns 8,072,939 shares of the utilities provider’s stock worth $327,115,000 after buying an additional 220,625 shares during the period. Vanguard Group Inc. raised its stake in shares of BCE by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,072,939 shares of the utilities provider’s stock worth $327,115,000 after buying an additional 220,625 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in shares of BCE by 14.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 7,781,823 shares of the utilities provider’s stock worth $307,882,000 after buying an additional 988,906 shares during the period. Institutional investors own 43.97% of the company’s stock.

Shares of BCE stock traded up $0.03 during trading hours on Friday, hitting $44.42. The company’s stock had a trading volume of 601,069 shares, compared to its average volume of 845,595. BCE Inc. has a twelve month low of $38.75 and a twelve month high of $45.65. The firm has a market cap of $39.90 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 4.82 and a beta of 0.46. The company has a quick ratio of 0.51, a current ratio of 0.56 and a debt-to-equity ratio of 1.18.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. BCE had a return on equity of 18.87% and a net margin of 12.30%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts expect that BCE Inc. will post 2.65 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a dividend of $0.604 per share. This is a positive change from BCE’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.42 annualized dividend and a yield of 5.44%. BCE’s dividend payout ratio is presently 87.82%.

Several analysts recently commented on the company. National Bank Financial cut BCE from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 4th. Zacks Investment Research cut BCE from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Argus upgraded BCE from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Friday, March 8th. BMO Capital Markets restated an “average” rating and issued a $62.00 target price on shares of BCE in a report on Friday, April 5th. Finally, Citigroup cut BCE from a “buy” rating to a “neutral” rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $50.25.

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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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