Oppenheimer Asset Management Inc. Has $17.09 Million Holdings in BCE Inc. (BCE)

Oppenheimer Asset Management Inc. raised its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 421,688 shares of the utilities provider’s stock after buying an additional 1,678 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BCE were worth $17,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Morgan Stanley lifted its stake in BCE by 7.4% in the second quarter. Morgan Stanley now owns 2,204,188 shares of the utilities provider’s stock valued at $89,248,000 after buying an additional 152,297 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in BCE by 26.3% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,215,067 shares of the utilities provider’s stock valued at $117,930,000 after buying an additional 461,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in BCE by 18.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,710 shares of the utilities provider’s stock valued at $1,648,000 after buying an additional 6,230 shares during the period. Envestnet Asset Management Inc. lifted its stake in BCE by 40.5% in the second quarter. Envestnet Asset Management Inc. now owns 276,095 shares of the utilities provider’s stock valued at $11,180,000 after buying an additional 79,569 shares during the period. Finally, Bank of Nova Scotia lifted its stake in BCE by 7.5% in the second quarter. Bank of Nova Scotia now owns 7,634,042 shares of the utilities provider’s stock valued at $308,683,000 after buying an additional 531,998 shares during the period. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on BCE shares. Desjardins raised BCE from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Monday, October 15th. ValuEngine raised BCE from a “sell” rating to a “hold” rating in a research note on Wednesday. Scotiabank raised BCE from a “sector perform” rating to a “buy” rating in a research note on Wednesday, October 10th. Finally, TD Securities reaffirmed a “hold” rating on shares of BCE in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $54.40.



Shares of NYSE BCE traded down $0.69 during mid-day trading on Friday, reaching $39.42. 1,273,800 shares of the company’s stock were exchanged, compared to its average volume of 884,405. The firm has a market cap of $36.37 billion, a P/E ratio of 15.00, a P/E/G ratio of 4.32 and a beta of 0.29. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.50 and a quick ratio of 0.46. BCE Inc. has a twelve month low of $38.88 and a twelve month high of $49.06.

BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.19. The company had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.81 billion. BCE had a return on equity of 18.67% and a net margin of 12.00%. BCE’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. Equities analysts anticipate that BCE Inc. will post 2.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 14th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.89%. This is a positive change from BCE’s previous quarterly dividend of $0.56. BCE’s dividend payout ratio (DPR) is currently 88.55%.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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