Gradient Investments LLC increased its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 17.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,053 shares of the utilities provider’s stock after purchasing an additional 8,171 shares during the quarter. Gradient Investments LLC’s holdings in BCE were worth $2,189,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BCE. Toronto Dominion Bank increased its position in shares of BCE by 35.6% during the 2nd quarter. Toronto Dominion Bank now owns 9,753,645 shares of the utilities provider’s stock valued at $400,193,000 after purchasing an additional 2,559,555 shares during the last quarter. Unigestion Holding SA bought a new position in shares of BCE during the 2nd quarter valued at approximately $41,493,000. Mawer Investment Management Ltd. increased its position in shares of BCE by 13.0% during the 2nd quarter. Mawer Investment Management Ltd. now owns 2,887,868 shares of the utilities provider’s stock valued at $117,047,000 after purchasing an additional 331,996 shares during the last quarter. Addenda Capital Inc. increased its position in shares of BCE by 185.6% during the 2nd quarter. Addenda Capital Inc. now owns 473,858 shares of the utilities provider’s stock valued at $19,876,000 after purchasing an additional 307,949 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of BCE by 358.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 382,010 shares of the utilities provider’s stock valued at $15,461,000 after purchasing an additional 298,700 shares during the last quarter. 43.44% of the stock is currently owned by hedge funds and other institutional investors.
BCE opened at $41.56 on Tuesday. BCE Inc. has a 52-week low of $40.19 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.50 and a quick ratio of 0.46. The firm has a market cap of $37.30 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 4.45 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.19. BCE had a return on equity of 18.67% and a net margin of 12.00%. The company had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business earned $0.89 EPS. BCE’s revenue was up 1.7% compared to the same quarter last year. research analysts forecast that BCE Inc. will post 2.67 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on BCE shares. Edward Jones raised BCE from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. ValuEngine downgraded BCE from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. BCE presently has a consensus rating of “Hold” and an average target price of $56.00.
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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