Norges Bank purchased a new stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,185,019 shares of the Wireless communications provider's stock, valued at approximately $70,212,000. Norges Bank owned about 0.35% of TELUS at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Barclays PLC lifted its position in shares of TELUS by 38.5% in the third quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock worth $7,839,000 after buying an additional 129,934 shares during the last quarter. FMR LLC lifted its holdings in TELUS by 192.0% in the 3rd quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider's stock worth $22,257,000 after purchasing an additional 872,235 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in TELUS by 13.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider's stock worth $44,785,000 after purchasing an additional 317,000 shares during the period. AEGON ASSET MANAGEMENT UK Plc grew its holdings in TELUS by 6.9% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,017,200 shares of the Wireless communications provider's stock valued at $13,785,000 after purchasing an additional 65,940 shares during the last quarter. Finally, Centre Asset Management LLC acquired a new position in TELUS during the fourth quarter valued at approximately $6,946,000. Institutional investors own 49.40% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on TU. StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. National Bank Financial cut shares of TELUS from an "outperform" rating to a "sector perform" rating in a report on Friday, December 13th. Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley began coverage on TELUS in a research note on Monday, December 16th. They set an "equal weight" rating for the company. Finally, Cormark downgraded TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold".
Get Our Latest Report on TU
TELUS Stock Performance
Shares of NYSE:TU traded down $0.21 on Monday, hitting $14.26. 8,019,416 shares of the company were exchanged, compared to its average volume of 2,783,806. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The company's 50 day moving average price is $14.89 and its two-hundred day moving average price is $15.08. TELUS Co. has a one year low of $13.24 and a one year high of $17.27. The firm has a market capitalization of $21.58 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 5.18 and a beta of 0.70.
TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The firm had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. Research analysts expect that TELUS Co. will post 0.71 earnings per share for the current year.
TELUS Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were given a $0.2829 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.13 annualized dividend and a yield of 7.94%. TELUS's dividend payout ratio (DPR) is currently 226.53%.
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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