Jones Collombin Investment Counsel Inc bought a new position in BCE, Inc. (NYSE:BCE) (TSE:BCE) during the second quarter, Holdings Channel reports. The institutional investor bought 6,255 shares of the utilities provider’s stock, valued at approximately $282,000.

A number of other hedge funds have also bought and sold shares of the company. TD Asset Management Inc. increased its stake in BCE by 3.7% in the second quarter. TD Asset Management Inc. now owns 18,546,068 shares of the utilities provider’s stock worth $833,976,000 after buying an additional 667,600 shares during the period. Wellington Management Group LLP increased its stake in BCE by 1.9% in the first quarter. Wellington Management Group LLP now owns 13,247,536 shares of the utilities provider’s stock worth $584,936,000 after buying an additional 244,009 shares during the period. FMR LLC increased its stake in BCE by 3.6% in the first quarter. FMR LLC now owns 12,274,108 shares of the utilities provider’s stock worth $543,445,000 after buying an additional 424,228 shares during the period. Great West Life Assurance Co. Can increased its stake in BCE by 6.2% in the second quarter. Great West Life Assurance Co. Can now owns 7,763,938 shares of the utilities provider’s stock worth $348,772,000 after buying an additional 453,091 shares during the period. Finally, Vanguard Group Inc. increased its stake in BCE by 9.0% in the first quarter. Vanguard Group Inc. now owns 6,839,144 shares of the utilities provider’s stock worth $302,769,000 after buying an additional 564,047 shares during the period. 43.99% of the stock is owned by hedge funds and other institutional investors.

Shares of BCE, Inc. (NYSE:BCE) opened at 46.14 on Friday. BCE, Inc. has a 12 month low of $41.83 and a 12 month high of $49.03. The firm has a market cap of $41.54 billion, a P/E ratio of 17.87 and a beta of 0.36. The firm has a 50-day moving average of $45.93 and a 200 day moving average of $44.94.

BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. BCE had a net margin of 12.85% and a return on equity of 21.08%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the business posted $0.94 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. On average, equities research analysts anticipate that BCE, Inc. will post $2.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.98%. This is an increase from BCE’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 14th. BCE’s dividend payout ratio (DPR) is presently 87.30%.

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A number of analysts recently issued reports on BCE shares. Canaccord Genuity set a $60.00 target price on shares of BCE and gave the stock a “hold” rating in a research report on Tuesday, May 16th. BidaskClub raised shares of BCE from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Barclays PLC increased their target price on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded shares of BCE from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, Argus started coverage on shares of BCE in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $55.80.

BCE Company Profile

BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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