Oppenheimer & Co. Inc. Increases Holdings in BCE, Inc. (NYSE:BCE)

Oppenheimer & Co. Inc. boosted its position in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 55.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 58,921 shares of the utilities provider's stock after acquiring an additional 21,041 shares during the period. Oppenheimer & Co. Inc.'s holdings in BCE were worth $1,353,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. raised its position in shares of BCE by 55.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 578,599 shares of the utilities provider's stock valued at $13,285,000 after purchasing an additional 206,111 shares during the period. Intact Investment Management Inc. grew its stake in BCE by 22.1% in the 1st quarter. Intact Investment Management Inc. now owns 2,374,910 shares of the utilities provider's stock valued at $54,518,000 after buying an additional 429,640 shares in the last quarter. ORG Partners LLC grew its stake in BCE by 77.2% in the 1st quarter. ORG Partners LLC now owns 3,891 shares of the utilities provider's stock valued at $89,000 after buying an additional 1,695 shares in the last quarter. Inscription Capital LLC bought a new stake in BCE during the 1st quarter valued at $153,000. Finally, Lorne Steinberg Wealth Management Inc. lifted its position in shares of BCE by 67.1% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 173,696 shares of the utilities provider's stock worth $3,991,000 after acquiring an additional 69,777 shares in the last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

BCE Price Performance

NYSE BCE traded up $0.17 during trading on Wednesday, reaching $22.80. The company's stock had a trading volume of 3,087,229 shares, compared to its average volume of 3,070,222. The firm has a fifty day moving average of $21.89 and a 200 day moving average of $22.69. BCE, Inc. has a one year low of $20.28 and a one year high of $36.17. The stock has a market capitalization of $21.26 billion, a PE ratio of 87.87, a P/E/G ratio of 3.68 and a beta of 0.61. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.64 and a quick ratio of 0.61.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $5.92 billion. BCE had a return on equity of 19.22% and a net margin of 1.82%. BCE's revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Analysts expect that BCE, Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The business also recently disclosed 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. This represents a dividend yield of 5.65%. The ex-dividend date is Monday, June 16th. BCE's dividend payout ratio (DPR) is currently 488.46%.

BCE Profile

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.