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Oppenheimer Asset Management Inc. Buys 206,111 Shares of BCE, Inc. (NYSE:BCE)

BCE logo with Utilities background

Oppenheimer Asset Management Inc. raised its holdings in shares of BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 55.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 578,599 shares of the utilities provider's stock after buying an additional 206,111 shares during the period. Oppenheimer Asset Management Inc. owned about 0.06% of BCE worth $13,285,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FIL Ltd increased its stake in shares of BCE by 9.7% in the 4th quarter. FIL Ltd now owns 26,292,783 shares of the utilities provider's stock worth $609,465,000 after purchasing an additional 2,322,474 shares in the last quarter. Bank of Nova Scotia grew its holdings in BCE by 22.2% during the fourth quarter. Bank of Nova Scotia now owns 19,945,799 shares of the utilities provider's stock valued at $462,262,000 after purchasing an additional 3,624,953 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in BCE by 10.8% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,551,400 shares of the utilities provider's stock worth $429,796,000 after buying an additional 1,814,111 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of BCE by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 15,878,904 shares of the utilities provider's stock worth $368,073,000 after buying an additional 411,911 shares during the period. Finally, Toronto Dominion Bank lifted its position in shares of BCE by 34.4% during the 4th quarter. Toronto Dominion Bank now owns 10,569,646 shares of the utilities provider's stock valued at $244,692,000 after buying an additional 2,706,839 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors.

BCE Price Performance

Shares of BCE stock traded down $0.04 during mid-day trading on Friday, hitting $21.82. The company had a trading volume of 2,651,614 shares, compared to its average volume of 3,055,975. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.64 and a quick ratio of 0.61. The stock's 50 day moving average price is $21.89 and its 200-day moving average price is $22.79. BCE, Inc. has a 52-week low of $20.28 and a 52-week high of $36.17. The company has a market capitalization of $20.34 billion, a P/E ratio of 83.90, a P/E/G ratio of 3.64 and a beta of 0.61.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. BCE had a net margin of 1.82% and a return on equity of 19.22%. The business had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The business's quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts forecast that BCE, Inc. will post 1.94 earnings per share for the current year.

BCE Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.4375 per share. The ex-dividend date is Monday, June 16th. This represents a dividend yield of 5.65%. BCE's dividend payout ratio is currently 488.46%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BCE shares. National Bankshares reaffirmed a "sector perform" rating on shares of BCE in a report on Tuesday, March 11th. National Bank Financial upgraded shares of BCE from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $35.00 target price on shares of BCE in a report on Wednesday, May 14th. Finally, Scotiabank upgraded BCE from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, June 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, BCE currently has a consensus rating of "Hold" and a consensus target price of $38.67.

Check Out Our Latest Stock Analysis on BCE

BCE Company Profile

(Free Report)

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.

Further Reading

Institutional Ownership by Quarter for BCE (NYSE:BCE)

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