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AE Wealth Management LLC Has $3.03 Million Stock Position in BCE Inc. (NYSE:BCE)

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AE Wealth Management LLC increased its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 19.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,534 shares of the utilities provider’s stock after purchasing an additional 9,878 shares during the quarter. AE Wealth Management LLC’s holdings in BCE were worth $3,030,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. increased its position in BCE by 102.2% in the 2nd quarter. Sei Investments Co. now owns 562,042 shares of the utilities provider’s stock valued at $27,709,000 after acquiring an additional 26,274,661 shares in the last quarter. Lincluden Management Ltd. bought a new position in BCE during the 2nd quarter worth approximately $58,775,000. Bank of Nova Scotia boosted its stake in BCE by 7.4% during the 2nd quarter. Bank of Nova Scotia now owns 15,849,579 shares of the utilities provider’s stock worth $781,517,000 after acquiring an additional 1,096,531 shares during the last quarter. Amundi bought a new position in BCE during the 2nd quarter worth approximately $38,220,000. Finally, Toronto Dominion Bank raised its holdings in BCE by 5.4% during the 2nd quarter. Toronto Dominion Bank now owns 10,171,073 shares of the utilities provider’s stock worth $548,587,000 after buying an additional 521,104 shares during the period. Institutional investors and hedge funds own 42.89% of the company’s stock.

Shares of BCE opened at $51.30 on Friday. The company has a market cap of $46.62 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 4.30 and a beta of 0.46. BCE Inc. has a 1-year low of $42.34 and a 1-year high of $53.00. The company’s fifty day simple moving average is $51.17 and its 200 day simple moving average is $50.71. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39.

BCE (NYSE:BCE) (TSE:BCE) last issued its earnings results on Thursday, November 4th. The utilities provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.17. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.94 billion. BCE had a net margin of 13.13% and a return on equity of 16.49%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. As a group, research analysts forecast that BCE Inc. will post 2.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, January 15th. Shareholders of record on Wednesday, December 15th will be given a dividend of $0.7047 per share. This represents a $2.82 dividend on an annualized basis and a yield of 5.49%. This is a boost from BCE’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 14th. BCE’s payout ratio is 108.88%.

Several brokerages have commented on BCE. Scotiabank raised their target price on shares of BCE from C$66.00 to C$68.00 and gave the stock an “outperform” rating in a report on Friday, November 5th. TD Securities downgraded shares of BCE from a “buy” rating to a “hold” rating and dropped their target price for the stock from $70.00 to $67.00 in a report on Friday, November 5th. CIBC raised their target price on shares of BCE from C$64.00 to C$65.00 and gave the stock a “neutral” rating in a report on Friday, November 5th. Desjardins raised their target price on shares of BCE from C$64.00 to C$66.00 and gave the stock a “hold” rating in a report on Monday, November 8th. Finally, Barclays restated a “hold” rating and set a C$60.00 target price on shares of BCE in a report on Wednesday, December 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.41.

BCE Company Profile

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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