TELUS Corporation $TU Shares Sold by Guardian Partners Inc.

Guardian Partners Inc. reduced its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 16.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 396,789 shares of the Wireless communications provider’s stock after selling 76,859 shares during the period. Guardian Partners Inc.’s holdings in TELUS were worth $5,102,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Manchester Capital Management LLC boosted its stake in shares of TELUS by 320.0% in the fourth quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock worth $30,000 after buying an additional 1,712 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in TELUS during the fourth quarter worth about $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in TELUS by 129.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock valued at $33,000 after acquiring an additional 1,393 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in TELUS during the fourth quarter valued at approximately $55,000. Finally, State of Wyoming acquired a new position in TELUS in the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Barclays set a $12.00 price objective on TELUS and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Scotiabank lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of TELUS in a research note on Friday, July 17th. Wall Street Zen raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley lowered shares of TELUS to an “underweight” rating in a research report on Tuesday, July 21st. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, TELUS presently has a consensus rating of “Hold” and a consensus target price of $15.67.

TELUS Stock Performance

NYSE TU opened at $10.69 on Wednesday. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 8.07 and a beta of 0.63. TELUS Corporation has a twelve month low of $9.95 and a twelve month high of $16.72. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average of $11.31 and a 200 day moving average of $12.51.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the business posted $0.26 earnings per share. TELUS’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts anticipate that TELUS Corporation will post 0.72 EPS for the current fiscal year.

TELUS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th were given a dividend of $0.4184 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 15.7%. TELUS’s dividend payout ratio (DPR) is 275.00%.

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.