Willingdon Wealth Management Boosts Holdings in BCE Inc. (NYSE:BCE)

Willingdon Wealth Management raised its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 51,998 shares of the utilities provider’s stock after purchasing an additional 1,670 shares during the period. Willingdon Wealth Management’s holdings in BCE were worth $2,365,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Investors Research Corp purchased a new position in BCE during the 1st quarter valued at about $25,000. Lindbrook Capital LLC boosted its stake in shares of BCE by 72.9% during the 2nd quarter. Lindbrook Capital LLC now owns 854 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 360 shares during the last quarter. Pennsylvania Trust Co acquired a new stake in shares of BCE during the 1st quarter worth about $396,000. Osborn Williams & Donohoe LLC acquired a new stake in shares of BCE during the 1st quarter worth about $45,000. Finally, Putnam FL Investment Management Co. acquired a new stake in shares of BCE during the 2nd quarter worth about $57,000. Hedge funds and other institutional investors own 44.02% of the company’s stock.

Shares of BCE traded up $0.41 during mid-day trading on Tuesday, reaching $46.59. 65,365 shares of the stock traded hands, compared to its average volume of 820,991. The stock has a market cap of $41.72 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 4.95 and a beta of 0.41. The firm has a fifty day moving average of $45.90. BCE Inc. has a 12-month low of $38.75 and a 12-month high of $47.14. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 1.33.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.90 billion. BCE had a net margin of 12.51% and a return on equity of 19.15%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. As a group, research analysts predict that BCE Inc. will post 2.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $0.601 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from BCE’s previous quarterly dividend of $0.59. BCE’s payout ratio is 87.45%.

Several research firms have issued reports on BCE. Barclays reaffirmed an “average” rating and set a $66.00 price target on shares of BCE in a research note on Sunday, May 5th. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, July 30th. Citigroup cut shares of BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Desjardins cut shares of BCE to a “hold” rating in a research report on Friday, August 2nd. Finally, TD Securities upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $44.38 price target on the stock in a report on Tuesday, June 18th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. BCE presently has an average rating of “Hold” and an average price target of $54.90.

About BCE

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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