TELUS Corporation $TU Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC cut its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 29.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,443 shares of the Wireless communications provider’s stock after selling 94,508 shares during the quarter. Morningstar Investment Management LLC’s holdings in TELUS were worth $2,956,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of TELUS in the fourth quarter valued at approximately $33,000. State of Wyoming acquired a new stake in TELUS during the second quarter worth approximately $61,000. Employees Retirement System of Texas acquired a new stake in TELUS during the third quarter worth approximately $64,000. Northwestern Mutual Wealth Management Co. boosted its position in TELUS by 37.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 4,585 shares of the Wireless communications provider’s stock worth $72,000 after acquiring an additional 1,241 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in TELUS by 67.7% during the second quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock worth $140,000 after acquiring an additional 3,510 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Performance

NYSE:TU opened at $12.50 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59. The company has a market cap of $19.67 billion, a P/E ratio of 28.40, a P/E/G ratio of 12.27 and a beta of 0.61. TELUS Corporation has a fifty-two week low of $11.69 and a fifty-two week high of $16.74. The firm’s 50 day moving average is $12.62 and its two-hundred day moving average is $13.22.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a net margin of 4.54% and a return on equity of 8.29%. TELUS’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. Analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be paid a $0.4184 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date of this dividend is Wednesday, June 10th. TELUS’s dividend payout ratio (DPR) is currently 279.55%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TU. Canaccord Genuity Group lowered shares of TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.50 to $16.00 in a research report on Tuesday, March 10th. TD Cowen upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.33.

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.