Mirabella Financial Services LLP Buys New Shares in TELUS Co. (NYSE:TU)

Mirabella Financial Services LLP acquired a new position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 269,282 shares of the Wireless communications provider's stock, valued at approximately $4,521,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new position in shares of TELUS during the 2nd quarter valued at $27,000. Blue Trust Inc. grew its stake in TELUS by 60.4% in the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider's stock valued at $41,000 after purchasing an additional 954 shares in the last quarter. UniSuper Management Pty Ltd acquired a new position in TELUS in the 1st quarter worth about $58,000. Acadian Asset Management LLC purchased a new stake in shares of TELUS during the 2nd quarter worth about $123,000. Finally, Trust Co. of Vermont lifted its holdings in shares of TELUS by 19.0% during the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider's stock valued at $128,000 after buying an additional 1,218 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Price Performance

Shares of NYSE TU traded up $0.28 during midday trading on Monday, reaching $15.48. 3,266,847 shares of the company traded hands, compared to its average volume of 2,318,056. The firm has a market cap of $23.22 billion, a PE ratio of 32.34, a PEG ratio of 2.19 and a beta of 0.75. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.69. The stock's 50-day simple moving average is $16.08 and its 200-day simple moving average is $16.06. TELUS Co. has a 12 month low of $14.63 and a 12 month high of $19.14.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the business earned $0.19 earnings per share. TELUS's quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts anticipate that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, December 11th. This is a boost from TELUS's previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.67%. TELUS's payout ratio is 244.69%.

Analysts Set New Price Targets

Several brokerages recently commented on TU. StockNews.com cut TELUS from a "hold" rating to a "sell" rating in a research report on Thursday. Canaccord Genuity Group downgraded shares of TELUS from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. Finally, Scotiabank upgraded shares of TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.