TELUS Co. (NYSE:TU) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,397 shares of the Wireless communications provider's stock after buying an additional 61,952 shares during the period. Envestnet Asset Management Inc.'s holdings in TELUS were worth $7,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of TU. Capital Research Global Investors raised its stake in shares of TELUS by 215.8% in the fourth quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider's stock valued at $395,314,000 after acquiring an additional 15,179,110 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of TELUS by 15.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider's stock valued at $511,646,000 after buying an additional 3,860,487 shares during the period. Goldman Sachs Group Inc. grew its position in shares of TELUS by 81.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,798,166 shares of the Wireless communications provider's stock worth $67,569,000 after buying an additional 1,704,788 shares in the last quarter. Fiera Capital Corp increased its stake in shares of TELUS by 9.9% during the second quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider's stock worth $252,468,000 after buying an additional 1,501,742 shares during the period. Finally, National Bank of Canada FI raised its holdings in TELUS by 7.2% in the first 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 acquiring an additional 1,438,904 shares in the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Stock Performance

NYSE TU traded up $0.11 during trading hours on Friday, hitting $16.77. The company had a trading volume of 1,611,082 shares, compared to its average volume of 2,261,000. The business has a 50 day moving average of $16.34 and a 200-day moving average of $16.13. The company has a market cap of $24.75 billion, a PE ratio of 43.00, a price-to-earnings-growth ratio of 2.53 and a beta of 0.74. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $19.14. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.61 and a current ratio of 0.66.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The firm had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.70 billion. During the same period in the prior year, the firm earned $0.14 EPS. As a group, equities research analysts expect that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.284 per share. This is an increase from TELUS's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 6.77%. The ex-dividend date is Tuesday, September 10th. TELUS's dividend payout ratio (DPR) is presently 294.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a report on Friday, September 6th. Canaccord Genuity Group cut TELUS from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.33.

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.