Envestnet Asset Management Inc. Grows Stake in BCE Inc. (NYSE:BCE)

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Envestnet Asset Management Inc. boosted its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 7.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,338,737 shares of the utilities provider’s stock after purchasing an additional 89,710 shares during the quarter. Envestnet Asset Management Inc. owned about 0.15% of BCE worth $60,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stephens Inc. AR increased its holdings in shares of BCE by 1.5% in the 2nd quarter. Stephens Inc. AR now owns 202,908 shares of the utilities provider’s stock valued at $9,228,000 after acquiring an additional 2,958 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of BCE by 213.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,015,616 shares of the utilities provider’s stock valued at $91,926,000 after acquiring an additional 1,372,333 shares during the period. Chesapeake Wealth Management increased its holdings in shares of BCE by 67.4% in the 2nd quarter. Chesapeake Wealth Management now owns 17,787 shares of the utilities provider’s stock valued at $809,000 after acquiring an additional 7,163 shares during the period. Advisory Services Network LLC increased its holdings in shares of BCE by 5.7% in the 2nd quarter. Advisory Services Network LLC now owns 7,297 shares of the utilities provider’s stock valued at $332,000 after acquiring an additional 391 shares during the period. Finally, Willingdon Wealth Management increased its holdings in shares of BCE by 3.3% in the 2nd quarter. Willingdon Wealth Management now owns 51,998 shares of the utilities provider’s stock valued at $2,365,000 after acquiring an additional 1,670 shares during the period. Institutional investors own 44.02% of the company’s stock.

Shares of BCE stock traded up $0.32 during trading on Friday, reaching $46.74. The company’s stock had a trading volume of 601,800 shares, compared to its average volume of 824,780. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 1.33. The company has a market cap of $41.67 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 4.92 and a beta of 0.41. BCE Inc. has a 1-year low of $38.75 and a 1-year high of $47.14. The company has a 50-day simple moving average of $45.97 and a two-hundred day simple moving average of $44.97.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The firm had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.90 billion. BCE had a return on equity of 19.15% and a net margin of 12.51%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. As a group, analysts anticipate that BCE Inc. will post 2.69 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $0.601 dividend. This is a boost from BCE’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.14%. BCE’s dividend payout ratio (DPR) is presently 87.45%.

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut BCE from an “overweight” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Monday, July 8th. Barclays reissued an “average” rating and issued a $66.00 price objective on shares of BCE in a research report on Sunday, May 5th. TD Securities raised BCE from a “hold” rating to a “buy” rating and set a $44.38 price objective for the company in a research report on Tuesday, June 18th. BMO Capital Markets reissued an “average” rating and issued a $63.00 price objective on shares of BCE in a research report on Friday, August 2nd. Finally, Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $54.90.

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. 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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