Entropy Technologies LP Takes Position in TELUS Co. (NYSE:TU)

Entropy Technologies LP purchased a new stake in TELUS Co. (NYSE:TU - Free Report) TSE: T in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 56,296 shares of the Wireless communications provider's stock, valued at approximately $945,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its position in shares of TELUS by 11.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider's stock worth $20,050,000 after acquiring an additional 126,488 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of TELUS by 5.4% in the 2nd quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider's stock valued at $188,835,000 after purchasing an additional 636,845 shares during the last quarter. Cumberland Partners Ltd raised its holdings in shares of TELUS by 130.4% during the 1st quarter. Cumberland Partners Ltd now owns 56,840 shares of the Wireless communications provider's stock worth $910,000 after buying an additional 32,170 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of TELUS during the 2nd quarter worth $680,000. Finally, Seven Eight Capital LP bought a new stake in shares of TELUS during the 1st quarter worth $938,000. Institutional investors own 49.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TU. Scotiabank raised TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. Canaccord Genuity Group cut shares of TELUS from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Finally, StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $26.00.

TELUS Trading Down 1.5 %

TU traded down $0.23 during trading on Thursday, reaching $15.35. 1,143,997 shares of the company's stock were exchanged, compared to its average volume of 2,284,806. The stock has a market capitalization of $22.90 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.75. The firm has a fifty day moving average price of $16.29 and a two-hundred day moving average price of $16.11. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50. TELUS Co. has a one year low of $14.63 and a one year high of $19.14.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The business's quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that TELUS Co. will post 0.78 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a yield of 7.74%. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio (DPR) is currently 244.69%.

TELUS Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.