Forsta AP Fonden Raises Stake in BCE Inc. (NYSE:BCE)

Forsta AP Fonden boosted its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 28.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,500 shares of the utilities provider’s stock after purchasing an additional 37,200 shares during the quarter. Forsta AP Fonden’s holdings in BCE were worth $8,339,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in BCE. Lincluden Management Ltd. purchased a new stake in BCE in the second quarter valued at approximately $58,775,000. Bank of Nova Scotia grew its holdings in BCE by 7.4% in the second quarter. Bank of Nova Scotia now owns 15,849,579 shares of the utilities provider’s stock valued at $781,517,000 after purchasing an additional 1,096,531 shares during the period. Amundi purchased a new stake in BCE in the second quarter valued at approximately $38,220,000. Jupiter Asset Management Ltd. grew its holdings in BCE by 11,873.9% in the third quarter. Jupiter Asset Management Ltd. now owns 724,540 shares of the utilities provider’s stock valued at $36,260,000 after purchasing an additional 718,489 shares during the period. Finally, Marathon Asset Mgmt Ltd purchased a new stake in BCE in the third quarter valued at approximately $28,363,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

BCE has been the subject of a number of recent analyst reports. CIBC boosted their target price on shares of BCE from C$64.00 to C$65.00 and gave the company a “neutral” rating in a report on Friday, November 5th. Scotiabank boosted their price objective on shares of BCE from C$66.00 to C$68.00 and gave the stock an “outperform” rating in a research note on Friday, November 5th. Desjardins boosted their price objective on shares of BCE from C$64.00 to C$66.00 and gave the stock a “hold” rating in a research note on Monday, November 8th. Barclays reiterated a “hold” rating and set a C$60.00 price objective on shares of BCE in a research note on Wednesday, December 8th. Finally, TD Securities downgraded shares of BCE from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $70.00 to $67.00 in a research note on Friday, November 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, BCE presently has a consensus rating of “Hold” and a consensus price target of $61.41.

NYSE BCE opened at $52.93 on Friday. The company’s fifty day simple moving average is $51.41 and its 200-day simple moving average is $50.94. BCE Inc. has a 52 week low of $42.34 and a 52 week high of $53.13. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39. The stock has a market cap of $48.11 billion, a P/E ratio of 20.44, a PEG ratio of 4.64 and a beta of 0.47.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, November 4th. The utilities provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. BCE had a net margin of 13.13% and a return on equity of 16.49%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts expect that BCE Inc. will post 2.49 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, January 15th. Investors of record on Wednesday, December 15th will be issued a $0.7047 dividend. The ex-dividend date of this dividend is Tuesday, December 14th. This is a boost from BCE’s previous quarterly dividend of $0.70. This represents a $2.82 annualized dividend and a yield of 5.33%. BCE’s dividend payout ratio is currently 104.63%.

About BCE

BCE, Inc is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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