Aigen Investment Management LP Invests $1.66 Million in TELUS Co. (NYSE:TU)

Aigen Investment Management LP purchased a new stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 98,675 shares of the Wireless communications provider's stock, valued at approximately $1,656,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. raised its stake in shares of TELUS by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider's stock worth $578,253,000 after purchasing an additional 2,365,753 shares in the last quarter. Fiera Capital Corp raised its stake in shares of TELUS by 9.9% during the 2nd quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider's stock worth $252,468,000 after purchasing an additional 1,501,742 shares in the last quarter. National Bank of Canada FI raised its stake in shares of TELUS by 7.2% during the 1st quarter. National Bank of Canada FI now owns 21,461,769 shares of the Wireless communications provider's stock worth $345,330,000 after purchasing an additional 1,438,904 shares in the last quarter. TD Asset Management Inc raised its stake in shares of TELUS by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider's stock worth $631,310,000 after purchasing an additional 1,208,720 shares in the last quarter. Finally, Guardian Capital LP raised its stake in shares of TELUS by 27.8% during the 1st quarter. Guardian Capital LP now owns 5,486,529 shares of the Wireless communications provider's stock worth $87,857,000 after purchasing an additional 1,195,035 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Price Performance

NYSE TU traded down $0.05 during trading on Tuesday, reaching $15.69. The company's stock had a trading volume of 3,296,895 shares, compared to its average volume of 2,285,166. The stock has a market capitalization of $23.40 billion, a PE ratio of 33.28, a P/E/G ratio of 2.40 and a beta of 0.75. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. The firm has a fifty day moving average of $16.32 and a 200 day moving average of $16.12. 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 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 8.50% and a net margin of 3.87%. The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same period in the prior year, the business posted $0.19 EPS. TELUS's quarterly revenue was up 1.8% compared to the same quarter last year. Analysts expect that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be paid a $0.297 dividend. This is an increase from TELUS's previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date of this dividend is Wednesday, December 11th. TELUS's dividend payout ratio (DPR) is 253.19%.

Wall Street Analysts Forecast Growth

TU has been the topic of a number of research reports. Scotiabank raised TELUS from a "sector perform" rating to a "sector outperform" rating in a report on Monday, October 28th. Canaccord Genuity Group lowered TELUS from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. Finally, StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $26.00.

About TELUS

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.