Fmr LLC Increases Holdings in TELUS Co. (NYSE:TU)

FMR LLC boosted its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 192.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,326,632 shares of the Wireless communications provider's stock after purchasing an additional 872,235 shares during the period. FMR LLC owned about 0.09% of TELUS worth $22,257,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. 1832 Asset Management L.P. boosted its position in TELUS by 6.6% during the 2nd 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 acquiring an additional 2,365,753 shares in the last quarter. Fiera Capital Corp boosted its position in TELUS by 9.9% during 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. TD Asset Management Inc boosted its position in TELUS by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider's stock valued at $631,310,000 after acquiring an additional 1,208,720 shares in the last quarter. Toronto Dominion Bank boosted its position in TELUS by 5.4% during the 2nd quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider's stock valued at $188,835,000 after acquiring an additional 636,845 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in TELUS by 1.8% during the 2nd quarter. CIBC Asset Management Inc now owns 22,404,617 shares of the Wireless communications provider's stock valued at $338,953,000 after acquiring an additional 387,686 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company's stock.

Wall Street Analysts Forecast Growth

TU has been the topic of several research reports. Scotiabank raised TELUS from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, October 28th. StockNews.com cut TELUS from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $26.00.

TELUS Stock Up 0.2 %

Shares of TU traded up $0.03 during mid-day trading on Tuesday, reaching $15.78. The company had a trading volume of 4,590,524 shares, compared to its average volume of 2,346,142. 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 firm has a 50-day moving average price of $15.82 and a 200 day moving average price of $16.00. TELUS Co. has a 52 week low of $14.63 and a 52 week high of $18.68. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.11. The firm had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The business's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. On average, sell-side analysts forecast 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 Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a $0.297 dividend. 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 annualized dividend and a yield of 7.53%. TELUS's dividend payout ratio is 253.19%.

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.