Jones Collombin Investment Counsel Inc Lowers stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Jones Collombin Investment Counsel Inc reduced its stake in BCE (USA) by 1.9% during the most recent quarter end. The investment management company now holds a total of 315,031 shares of BCE (USA) which is valued at $14,778,104 after selling 6,114 shares in BCE (USA) , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.BCE (USA) makes up approximately 4.08% of Jones Collombin Investment Counsel Inc’s portfolio.

BCE (USA) closed down -0.13 points or -0.28% at $46.78 with 9,64,689 shares getting traded on Monday. Post opening the session at $47.24, the shares hit an intraday low of $46.63 and an intraday high of $47.55 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Gulf International Bank (uk) Ltd boosted its stake in BCE in the latest quarter, The investment management firm added 1,800 additional shares and now holds a total of 45,701 shares of BCE (USA) which is valued at $2,108,187. BCE (USA) makes up approx 0.04% of Gulf International Bank (uk) Ltd’s portfolio. Cwm sold out all of its stake in BCE during the most recent quarter. The investment firm sold 27 shares of BCE which is valued $1,246.Independent Portfolio Consultants boosted its stake in BCE in the latest quarter, The investment management firm added 1,070 additional shares and now holds a total of 18,450 shares of BCE (USA) which is valued at $858,479. BCE (USA) makes up approx 0.24% of Independent Portfolio Consultants’s portfolio.

On the company’s financial health, BCE (USA) reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.83. The company had revenue of $5270.00 million for the quarter, compared to analysts expectations of $5322.33 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

Many Wall Street Analysts have commented on BCE (USA). Company shares were Reiterated by Barclays on Feb 5, 2016 to “Overweight”, Firm has raised the Price Target to $ 45 from a previous price target of $43 .

BCE Inc. is a communications company. The Company provides residential business and wholesale customers with a range of solutions to all their communications needs including wireless high-speed Internet Internet protocol television (IPTV) and satellite TV business Internet protocol (IP) broadband and information and communications technology (ICT) services. The Company’s segments include Bell Wireless Bell Wireline and Bell Media. The Company’s Bell Wireless segment provides wireless services that are available to virtually all of the Canadian population. The Bell Wireline segment includes voice and data network; high-speed fiber deployment and bell direct to home (DTH) satellite television service. The Company’s Bell Media segment offers specialty and pay television radio digital media and out-of-home advertising. The Company through Bell media operates approximately 110 radio stations in over 50 markets across Canada.

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