Harvest Portfolios Group Inc. Grows Position in TELUS Corporation $TU

Harvest Portfolios Group Inc. grew its position in TELUS Corporation (NYSE:TU) (TSE:T) by 108.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,285 shares of the Wireless communications provider’s stock after purchasing an additional 220,552 shares during the period. Harvest Portfolios Group Inc.’s holdings in TELUS were worth $6,667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Walter Public Investments Inc. raised its holdings in TELUS by 1.9% in the third quarter. Walter Public Investments Inc. now owns 39,334 shares of the Wireless communications provider’s stock valued at $619,000 after buying an additional 750 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in TELUS by 7.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 11,483 shares of the Wireless communications provider’s stock worth $181,000 after buying an additional 755 shares during the period. Farther Finance Advisors LLC increased its position 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 worth $46,000 after acquiring an additional 759 shares in the last quarter. Blue Trust Inc. raised its stake in shares of TELUS by 23.8% in the 3rd quarter. Blue Trust Inc. now owns 3,994 shares of the Wireless communications provider’s stock valued at $63,000 after acquiring an additional 767 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of TELUS by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after acquiring an additional 841 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

TU has been the topic of several research reports. Scotiabank reissued an “outperform” rating on shares of TELUS in a research report on Tuesday, February 17th. Canaccord Genuity Group upgraded TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $19.00 price target (down from $22.00) on shares of TELUS in a research report on Tuesday, November 18th. TD Securities restated a “buy” rating on shares of TELUS in a report on Friday, February 13th. Finally, Citigroup upgraded shares of TELUS to a “buy” rating in a research note on Thursday, December 4th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.17.

TELUS Stock Up 0.5%

TU stock opened at $13.73 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The firm has a 50 day simple moving average of $13.54 and a 200-day simple moving average of $14.47. The company has a market capitalization of $21.25 billion, a P/E ratio of 26.39, a PEG ratio of 1.61 and a beta of 0.67. TELUS Corporation has a twelve month low of $12.54 and a twelve month high of $16.74.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.85 billion. TELUS had a net margin of 5.42% and a return on equity of 8.42%. During the same quarter last year, the company earned $0.25 earnings per share. On average, equities research analysts predict that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be paid a $0.4184 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 12.2%. The ex-dividend date is Wednesday, March 11th. TELUS’s dividend payout ratio (DPR) is 230.77%.

About TELUS

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.