TD Waterhouse Canada Inc. Purchases 135,593 Shares of TELUS Corporation $TU

TD Waterhouse Canada Inc. lifted its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,557,626 shares of the Wireless communications provider’s stock after purchasing an additional 135,593 shares during the period. TELUS accounts for 1.2% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 21st largest holding. TD Waterhouse Canada Inc. owned 0.75% of TELUS worth $183,133,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Parvin Asset Management LLC acquired a new stake in shares of TELUS in the second quarter valued at approximately $27,000. Farther Finance Advisors LLC increased its holdings in shares of TELUS by 35.0% in the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 759 shares during the last quarter. Blue Trust Inc. raised its position in shares of TELUS by 26.1% in the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after purchasing an additional 667 shares during the period. CWM LLC lifted its stake in shares of TELUS by 169.6% during the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after buying an additional 2,301 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of TELUS during the 2nd quarter worth about $61,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TU shares. Canaccord Genuity Group upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. BMO Capital Markets lowered TELUS from an “outperform” rating to a “market perform” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $19.00 target price (down previously from $22.00) on shares of TELUS in a report on Tuesday, November 18th. Natl Bk Canada raised shares of TELUS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of TELUS in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.17.

TELUS Trading Up 0.8%

TU opened at $13.97 on Thursday. The company’s 50 day moving average is $13.19 and its 200-day moving average is $14.82. The company has a market cap of $21.63 billion, a P/E ratio of 25.41, a PEG ratio of 2.08 and a beta of 0.66. TELUS Corporation has a 1-year low of $12.54 and a 1-year high of $16.74. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.47.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a return on equity of 8.76% and a net margin of 5.71%.The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 earnings per share. Equities research analysts predict that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Thursday, December 11th were given a $0.4184 dividend. This represents a $1.67 annualized dividend and a yield of 12.0%. The ex-dividend date of this dividend was Thursday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.30. TELUS’s payout ratio is 218.18%.

TELUS Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.