Private Advisor Group LLC Has $1.14 Million Position in BCE Inc. (NYSE:BCE)

Private Advisor Group LLC boosted its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 140.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,633 shares of the utilities provider’s stock after purchasing an additional 14,986 shares during the period. Private Advisor Group LLC’s holdings in BCE were worth $1,138,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. TD Asset Management Inc. boosted its position in shares of BCE by 1.6% during the 1st quarter. TD Asset Management Inc. now owns 17,747,576 shares of the utilities provider’s stock valued at $788,308,000 after purchasing an additional 274,189 shares in the last quarter. 1832 Asset Management L.P. boosted its position 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 valued at $491,709,000 after purchasing an additional 890,742 shares in the last quarter. Bank of Nova Scotia boosted its position 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 valued at $349,650,000 after purchasing an additional 506,546 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of BCE by 1.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 7,931,450 shares of the utilities provider’s stock valued at $350,868,000 after purchasing an additional 149,627 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its position in shares of BCE by 7.4% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 7,177,591 shares of the utilities provider’s stock valued at $283,414,000 after purchasing an additional 493,137 shares in the last quarter. Institutional investors and hedge funds own 43.76% of the company’s stock.

Shares of BCE stock opened at $44.91 on Friday. The company has a market capitalization of $42.16 billion, a PE ratio of 16.57, a P/E/G ratio of 5.13 and a beta of 0.42. BCE Inc. has a 52 week low of $38.75 and a 52 week high of $47.14. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.51.

BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.58 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.58. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.75 billion. BCE had a return on equity of 18.66% and a net margin of 12.56%. BCE’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $0.80 earnings per share. On average, equities research analysts predict that BCE Inc. will post 2.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.592 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 5.27%. This is an increase from BCE’s previous quarterly dividend of $0.56. The ex-dividend date is Thursday, June 13th. BCE’s dividend payout ratio (DPR) is presently 87.82%.

BCE has been the topic of a number of research reports. Citigroup downgraded BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Barclays reaffirmed an “average” rating and set a $66.00 price target on shares of BCE in a research note on Sunday, May 5th. Desjardins downgraded BCE from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Argus raised BCE from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Friday, March 8th. Finally, BMO Capital Markets reaffirmed an “average” rating and set a $62.00 price target on shares of BCE in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. BCE presently has a consensus rating of “Hold” and an average price target of $55.00.

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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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