Entropy Technologies LP bought a new stake in TELUS Co. (NYSE:TU - Free Report) TSE: T in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 56,296 shares of the Wireless communications provider's stock, valued at approximately $945,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1832 Asset Management L.P. lifted its stake in shares of TELUS by 6.6% in the second quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider's stock valued at $578,253,000 after buying an additional 2,365,753 shares in the last quarter. Fiera Capital Corp lifted its position in TELUS by 9.9% in the 2nd quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider's stock valued at $252,468,000 after acquiring an additional 1,501,742 shares in the last quarter. National Bank of Canada FI boosted its stake in 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 valued at $345,330,000 after purchasing an additional 1,438,904 shares during the last quarter. TD Asset Management Inc raised its stake in shares of TELUS by 3.0% in the second 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 during the last quarter. Finally, Guardian Capital LP lifted its holdings in shares of TELUS by 27.8% in the first quarter. Guardian Capital LP now owns 5,486,529 shares of the Wireless communications provider's stock valued at $87,857,000 after purchasing an additional 1,195,035 shares in the last quarter. 49.40% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Scotiabank raised shares of TELUS from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, October 28th. Canaccord Genuity Group downgraded 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 report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, TELUS presently has a consensus rating of "Hold" and a consensus target price of $26.00.
View Our Latest Analysis on TU
TELUS Stock Performance
Shares of TU stock traded down $0.23 during trading hours on Thursday, hitting $15.35. 1,143,997 shares of the company were exchanged, compared to its average volume of 2,284,806. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $22.90 billion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 2.12 and a beta of 0.75. The firm has a fifty day simple moving average of $16.29 and a 200 day simple moving average of $16.11. TELUS Co. has a 52-week low of $14.63 and a 52-week high of $19.14.
TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.11. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. Research analysts predict that TELUS Co. will post 0.78 earnings per share for the current fiscal year.
TELUS Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a $0.297 dividend. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date of this dividend is Wednesday, December 11th. TELUS's dividend payout ratio (DPR) is presently 244.69%.
About TELUS
(
Free Report)
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.
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