K.J. Harrison & Partners Inc Reduces Position in TELUS Co. (NYSE:TU)

K.J. Harrison & Partners Inc lowered its stake in TELUS Co. (NYSE:TU - Free Report) TSE: T by 38.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 148,908 shares of the Wireless communications provider's stock after selling 93,185 shares during the quarter. K.J. Harrison & Partners Inc's holdings in TELUS were worth $2,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TU. National Bank of Canada FI grew its stake in shares of TELUS by 24.2% in the third quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider's stock worth $438,922,000 after acquiring an additional 5,094,269 shares during the last quarter. Fiera Capital Corp raised its stake in shares of TELUS by 1.3% in the third quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider's stock worth $283,854,000 after buying an additional 211,815 shares during the period. Janus Henderson Group PLC raised its stake in shares of TELUS by 0.7% in the third quarter. Janus Henderson Group PLC now owns 6,701,819 shares of the Wireless communications provider's stock worth $112,610,000 after buying an additional 49,088 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in shares of TELUS by 8.9% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,233,944 shares of the Wireless communications provider's stock worth $54,249,000 after buying an additional 263,774 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its stake in TELUS by 13.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider's stock valued at $44,785,000 after purchasing an additional 317,000 shares during the period. Institutional investors own 49.40% of the company's stock.

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Analysts Set New Price Targets

TU has been the subject of a number of research reports. Morgan Stanley assumed coverage on shares of TELUS in a research report on Monday, December 16th. They set an "equal weight" rating for the company. National Bank Financial lowered shares of TELUS from an "outperform" rating to a "sector perform" rating in a report on Friday, December 13th. Finally, StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, TELUS currently has an average rating of "Hold" and a consensus price target of $26.00.

TELUS Stock Down 0.4 %

NYSE TU traded down $0.06 during trading on Friday, reaching $15.47. 3,076,230 shares of the company's stock traded hands, compared to its average volume of 3,747,701. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The firm has a market cap of $23.20 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 5.18 and a beta of 0.75. The company's 50 day simple moving average is $14.39 and its two-hundred day simple moving average is $15.39. TELUS Co. has a 12-month low of $13.24 and a 12-month high of $17.77.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same quarter last year, the firm posted $0.10 EPS. As a group, sell-side analysts forecast that TELUS Co. will post 0.71 EPS for the current fiscal year.

TELUS Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be issued a $0.2829 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date is Tuesday, March 11th. TELUS's dividend payout ratio is currently 224.49%.

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.