Bce INC (BCE) Shareholder Cullen Capital Management LLC Has Raised Its Position by $41.99 Million as Stock Value Declined

July 17, 2017 - By Michael Collier

Cullen Capital Management Llc increased its stake in Bce Inc. (BCE) by 139.87% based on its latest 2016Q4 regulatory filing with the SEC. Cullen Capital Management Llc bought 976,600 shares as the company’s stock declined 0.38% while stock markets rallied. The institutional investor held 1.67 million shares of the public utilities company at the end of 2016Q4, valued at $72.42M, up from 698,210 at the end of the previous reported quarter. Cullen Capital Management Llc who had been investing in Bce Inc. for a number of months, seems to be bullish on the $41.79B market cap company. The stock declined 0.20% or $0.09 reaching $45.87 on the news. About 680,178 shares traded. BCE Inc. (USA) (NYSE:BCE) has declined 2.36% since July 17, 2016 and is downtrending. It has underperformed by 19.06% the S&P500.

Cullen Capital Management Llc, which manages about $3.87 billion and $2.90 billion US Long portfolio, decreased its stake in Nextera Energy Inc (NYSE:NEE) by 149,965 shares to 648,085 shares, valued at $77.42M in 2016Q4, according to the filing. It also reduced its holding in Microsoft Corp. (NASDAQ:MSFT) by 269,850 shares in the quarter, leaving it with 1.29M shares, and cut its stake in Vodafone Group Plc (Adr) (NASDAQ:VOD).

More notable recent BCE Inc. (USA) (NYSE:BCE) news were published by: Fool.ca which released: “Should You Buy BCE Inc. for the 5% Yield?” on July 12, 2017, also Fool.ca with their article: “Retirees: Should You Buy BCE Inc. or Enbridge Inc. Today?” published on June 30, 2017, Fool.ca published: “BCE Inc.: The Foundation for Your Income Portfolio” on June 19, 2017. More interesting news about BCE Inc. (USA) (NYSE:BCE) were released by: Fool.ca and their article: “Does Your Portfolio Include BCE Inc.?” published on June 20, 2017 as well as Fool.ca‘s news article titled: “Dividend Investors: Should BCE Inc. or Bank of Montreal Be in Your RRSP?” with publication date: July 11, 2017.

BCE Inc. (USA) (NYSE:BCE) Ratings Coverage

Among 8 analysts covering BCE Inc. (NYSE:BCE), 4 have Buy rating, 1 Sell and 3 Hold. Therefore 50% are positive. BCE Inc. had 16 analyst reports since August 4, 2015 according to SRatingsIntel. The company was downgraded on Monday, January 9 by RBC Capital Markets. On Thursday, April 6 the stock rating was upgraded by Citigroup to “Buy”. The firm earned “Buy” rating on Friday, December 4 by Goldman Sachs. The stock of BCE Inc. (USA) (NYSE:BCE) has “Neutral” rating given on Monday, January 4 by Credit Suisse. The firm has “Hold” rating by Canaccord Genuity given on Friday, August 7. Citigroup maintained BCE Inc. (USA) (NYSE:BCE) on Tuesday, July 19 with “Neutral” rating. Macquarie Research downgraded BCE Inc. (USA) (NYSE:BCE) on Tuesday, October 27 to “Underperform” rating. National Bank Canada maintained it with “Sector Perform” rating and $43 target in Friday, November 6 report. The firm earned “Neutral” rating on Thursday, May 26 by Citigroup. Canaccord Genuity upgraded the stock to “Buy” rating in Friday, November 6 report.

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