Pathway Financial Advisers LLC Has $64.45 Million Stock Holdings in BCE Inc. (NYSE:BCE)

Pathway Financial Advisers LLC increased its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 3,355.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,852,025 shares of the utilities provider’s stock after purchasing an additional 1,798,427 shares during the quarter. BCE makes up about 0.6% of Pathway Financial Advisers LLC’s portfolio, making the stock its 24th largest holding. Pathway Financial Advisers LLC owned about 0.20% of BCE worth $64,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new position in BCE during the 1st quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV grew its holdings in BCE by 3,480.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 1,044 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 675 shares during the last quarter. Brown Lisle Cummings Inc. grew its holdings in BCE by 60.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 600 shares during the last quarter. Finally, Bruce G. Allen Investments LLC grew its holdings in BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 1,268 shares during the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Stock Down 0.7 %

BCE stock opened at $32.47 on Wednesday. BCE Inc. has a 1-year low of $31.13 and a 1-year high of $41.77. The firm has a market capitalization of $29.62 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 5.55 and a beta of 0.58. The firm’s fifty day moving average price is $34.40 and its two-hundred day moving average price is $33.73. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 2.00.

BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. BCE had a net margin of 8.39% and a return on equity of 17.10%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the firm earned $0.59 earnings per share. On average, equities research analysts predict that BCE Inc. will post 2.21 earnings per share for the current fiscal year.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 16th were given a dividend of $0.729 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 8.98%. The ex-dividend date of this dividend was Monday, September 16th. BCE’s payout ratio is currently 185.53%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BCE shares. BMO Capital Markets boosted their target price on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Cibc World Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays reduced their price objective on shares of BCE from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Finally, National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, BCE has a consensus rating of “Hold” and a consensus target price of $46.33.

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.