Tower Research Capital LLC TRC Acquires 12,032 Shares of BCE Inc. (NYSE:BCE)

Tower Research Capital LLC TRC grew its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 1,122.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,104 shares of the utilities provider’s stock after acquiring an additional 12,032 shares during the quarter. Tower Research Capital LLC TRC’s holdings in BCE were worth $634,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BCE. Alberta Investment Management Corp boosted its position in shares of BCE by 95.6% during the 3rd quarter. Alberta Investment Management Corp now owns 3,103,967 shares of the utilities provider’s stock valued at $150,228,000 after acquiring an additional 1,517,200 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of BCE by 17.4% during the 2nd quarter. Bank of Nova Scotia now owns 9,555,045 shares of the utilities provider’s stock valued at $432,138,000 after acquiring an additional 1,416,703 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of BCE by 213.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,015,616 shares of the utilities provider’s stock valued at $91,926,000 after acquiring an additional 1,372,333 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new stake in shares of BCE during the 2nd quarter valued at about $58,988,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BCE by 32.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,216,844 shares of the utilities provider’s stock valued at $237,857,000 after acquiring an additional 1,268,440 shares during the last quarter. Hedge funds and other institutional investors own 43.77% of the company’s stock.

BCE has been the subject of a number of research analyst reports. Scotiabank reiterated a “buy” rating on shares of BCE in a research report on Friday, August 16th. Citigroup lifted their price target on BCE from $60.00 to $62.00 in a research report on Saturday, November 2nd. TD Securities boosted their target price on BCE from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. National Bank Financial upgraded BCE from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 20th. Finally, Zacks Investment Research downgraded BCE from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Monday, September 9th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. BCE presently has an average rating of “Buy” and a consensus target price of $60.00.

NYSE:BCE opened at $48.50 on Friday. The business has a 50 day moving average of $48.15 and a 200 day moving average of $46.58. The company has a market capitalization of $43.72 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 4.32 and a beta of 0.38. BCE Inc. has a 1-year low of $38.85 and a 1-year high of $49.58. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.56.

BCE (NYSE:BCE) (TSE:BCE) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.21. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.99 billion. BCE had a return on equity of 18.75% and a net margin of 12.61%. BCE’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, sell-side analysts anticipate that BCE Inc. will post 2.68 EPS for the current year.

BCE Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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