Gold Investment Management Ltd. Boosts Stock Position in BCE Inc. (NYSE:BCE)

Gold Investment Management Ltd. lifted its holdings in shares of BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,715 shares of the utilities provider’s stock after purchasing an additional 2,498 shares during the quarter. BCE comprises about 1.4% of Gold Investment Management Ltd.’s investment portfolio, making the stock its 23rd biggest position. Gold Investment Management Ltd.’s holdings in BCE were worth $3,457,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. National Bank of Canada FI raised its position in BCE by 1.4% in the fourth quarter. National Bank of Canada FI now owns 15,933,185 shares of the utilities provider’s stock valued at $643,159,000 after purchasing an additional 221,174 shares during the period. Vanguard Group Inc. grew its stake in BCE by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 14,644,735 shares of the utilities provider’s stock worth $576,710,000 after purchasing an additional 311,902 shares in the last quarter. FIL Ltd grew its stake in BCE by 18.8% in the fourth 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. TD Asset Management Inc grew its stake in BCE by 4.1% in the fourth quarter. TD Asset Management Inc now owns 11,151,776 shares of the utilities provider’s stock worth $441,217,000 after purchasing an additional 435,681 shares in the last quarter. Finally, Scotia Capital Inc. grew its stake in BCE by 3.3% in the fourth quarter. Scotia Capital Inc. now owns 9,085,576 shares of the utilities provider’s stock worth $357,678,000 after purchasing an additional 287,261 shares in the last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Stock Up 0.7 %

NYSE:BCE traded up $0.23 during trading hours on Wednesday, hitting $31.77. 1,845,608 shares of the stock traded hands, compared to its average volume of 2,344,899. The firm has a 50 day moving average price of $33.29 and a 200 day moving average price of $35.58. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.87. BCE Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $45.19. The firm 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.

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

BCE Cuts Dividend

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

Analysts Set New Price Targets

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

Read Our Latest Analysis 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.

See Also

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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