First Trust Advisors LP Raises Position in BCE Inc. (BCE)

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First Trust Advisors LP boosted its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 3.3% in the 2nd quarter, Holdings Channel reports. The firm owned 413,547 shares of the utilities provider’s stock after acquiring an additional 13,132 shares during the quarter. First Trust Advisors LP’s holdings in BCE were worth $16,745,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BCE. Canandaigua National Bank & Trust Co. bought a new position in shares of BCE during the first quarter valued at $359,000. Baird Financial Group Inc. raised its stake in shares of BCE by 15.3% during the first quarter. Baird Financial Group Inc. now owns 40,274 shares of the utilities provider’s stock valued at $1,733,000 after acquiring an additional 5,357 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of BCE by 1.1% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 215,717 shares of the utilities provider’s stock valued at $8,722,000 after acquiring an additional 2,425 shares during the last quarter. Marathon Asset Management LLP raised its stake in shares of BCE by 0.7% during the second quarter. Marathon Asset Management LLP now owns 569,904 shares of the utilities provider’s stock valued at $23,389,000 after acquiring an additional 3,984 shares during the last quarter. Finally, Conning Inc. raised its stake in shares of BCE by 142.2% during the second quarter. Conning Inc. now owns 32,467 shares of the utilities provider’s stock valued at $1,315,000 after acquiring an additional 19,063 shares during the last quarter. 42.81% of the stock is owned by institutional investors and hedge funds.

BCE opened at $41.54 on Monday. BCE Inc. has a twelve month low of $40.19 and a twelve month high of $49.06. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 1.10. The firm has a market cap of $36.38 billion, a PE ratio of 15.85, a PEG ratio of 4.33 and a beta of 0.34.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.19. BCE had a net margin of 12.00% and a return on equity of 18.67%. The company had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the company posted $0.89 earnings per share. BCE’s revenue for the quarter was up 1.7% compared to the same quarter last year. research analysts anticipate that BCE Inc. will post 2.67 earnings per share for the current fiscal year.

Several research firms have recently issued reports on BCE. ValuEngine downgraded shares of BCE from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Edward Jones raised shares of BCE from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $56.00.

BCE Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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