Cumberland Partners Ltd boosted its holdings in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 7.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,686 shares of the utilities provider’s stock after buying an additional 1,550 shares during the quarter. Cumberland Partners Ltd’s holdings in BCE were worth $1,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its position in BCE by 35.8% during the 2nd quarter. BlackRock Inc. now owns 2,062,333 shares of the utilities provider’s stock worth $92,888,000 after buying an additional 543,921 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in BCE by 113.9% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 2,088,120 shares of the utilities provider’s stock worth $93,899,000 after buying an additional 1,111,892 shares during the last quarter. Wells Fargo & Company MN raised its position in BCE by 3.9% during the 2nd quarter. Wells Fargo & Company MN now owns 3,125,798 shares of the utilities provider’s stock worth $140,786,000 after buying an additional 118,048 shares during the last quarter. Intact Investment Management Inc. raised its position in BCE by 20.6% during the 2nd quarter. Intact Investment Management Inc. now owns 1,180,098 shares of the utilities provider’s stock worth $68,916,000 after buying an additional 201,960 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in BCE by 18.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 64,967 shares of the utilities provider’s stock worth $2,926,000 after buying an additional 9,950 shares during the last quarter. 43.02% of the stock is owned by institutional investors.

BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). BCE had a return on equity of 20.80% and a net margin of 12.78%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the company earned $0.94 EPS. BCE’s revenue for the quarter was up 6.7% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.558 per share. This represents a $2.23 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Thursday, December 14th. BCE’s dividend payout ratio (DPR) is presently 93.50%.

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BCE has been the subject of a number of recent research reports. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, October 4th. Morgan Stanley reduced their price target on shares of BCE from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 27th. Barclays PLC lifted their target price on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. BidaskClub raised shares of BCE from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Argus started coverage on shares of BCE in a report on Tuesday, July 18th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. BCE has a consensus rating of “Buy” and a consensus price target of $56.83.

BCE Profile

BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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