Strategic Investment Advisors MI Boosts Position in BCE Inc. (NYSE:BCE)

Strategic Investment Advisors MI boosted its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 8.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,010 shares of the utilities provider’s stock after purchasing an additional 654 shares during the quarter. Strategic Investment Advisors MI’s holdings in BCE were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Joel Isaacson & Co. LLC grew its holdings in BCE by 23.9% in the 1st quarter. Joel Isaacson & Co. LLC now owns 21,655 shares of the utilities provider’s stock valued at $961,000 after buying an additional 4,180 shares during the period. Virginia Retirement Systems ET AL grew its holdings in BCE by 20.0% in the 1st quarter. Virginia Retirement Systems ET AL now owns 150,000 shares of the utilities provider’s stock valued at $6,663,000 after buying an additional 25,000 shares during the period. Virtu Financial LLC grew its holdings in BCE by 153.2% in the 4th quarter. Virtu Financial LLC now owns 27,386 shares of the utilities provider’s stock valued at $1,083,000 after buying an additional 16,572 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in BCE by 184.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,993,028 shares of the utilities provider’s stock valued at $157,669,000 after buying an additional 2,588,027 shares during the period. Finally, Lincluden Management Ltd. purchased a new stake in BCE in the 4th quarter valued at about $77,553,000. 43.50% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on BCE. Barclays reiterated an “average” rating and set a $66.00 target price on shares of BCE in a report on Sunday, May 5th. Desjardins cut BCE from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Citigroup cut BCE from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. BMO Capital Markets reiterated an “average” rating and set a $62.00 target price on shares of BCE in a report on Friday, April 5th. Finally, Argus upgraded BCE from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.00.

Shares of NYSE:BCE traded up $0.15 during trading on Friday, reaching $45.31. 488,100 shares of the stock were exchanged, compared to its average volume of 805,493. The stock has a market capitalization of $40.57 billion, a P/E ratio of 16.72, a PEG ratio of 4.95 and a beta of 0.46. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.51 and a current ratio of 0.55. BCE Inc. has a 12-month low of $38.75 and a 12-month high of $45.71.

BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.75 billion. BCE had a return on equity of 18.66% and a net margin of 12.56%. BCE’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Analysts predict that BCE Inc. will post 2.62 earnings per share for the current year.

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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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