EverSource Wealth Advisors LLC Sells 5,789 Shares of TELUS Co. (NYSE:TU)

EverSource Wealth Advisors LLC cut its stake in TELUS Co. (NYSE:TU) (TSE:T) by 29.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,142 shares of the Wireless communications provider’s stock after selling 5,789 shares during the period. EverSource Wealth Advisors LLC’s holdings in TELUS were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Clearbridge Investments LLC bought a new position in TELUS during the fourth quarter worth about $109,327,000. Norges Bank acquired a new position in TELUS during the 4th quarter worth approximately $82,775,000. Quadrature Capital Ltd bought a new stake in TELUS during the 3rd quarter worth approximately $28,436,000. Scotia Capital Inc. grew its holdings in TELUS by 10.2% during the 3rd quarter. Scotia Capital Inc. now owns 16,675,010 shares of the Wireless communications provider’s stock worth $272,179,000 after acquiring an additional 1,542,942 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of TELUS by 14.1% in the 3rd quarter. Invesco Ltd. now owns 11,374,743 shares of the Wireless communications provider’s stock valued at $185,863,000 after purchasing an additional 1,409,188 shares during the last quarter. 49.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TU. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Scotiabank reissued a “sector perform” rating and set a $26.00 target price (down from $28.00) on shares of TELUS in a research note on Monday, March 25th. Finally, BMO Capital Markets cut their target price on shares of TELUS from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TELUS presently has a consensus rating of “Hold” and a consensus target price of $27.72.

TELUS Stock Down 0.2 %

TU traded down $0.03 during trading on Friday, hitting $16.34. 255,056 shares of the company’s stock were exchanged, compared to its average volume of 2,382,401. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average is $16.19 and its two-hundred day moving average is $17.24. TELUS Co. has a fifty-two week low of $15.35 and a fifty-two week high of $19.66. The stock has a market cap of $24.12 billion, a P/E ratio of 41.98, a PEG ratio of 2.40 and a beta of 0.71.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be issued a $0.282 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.13 annualized dividend and a dividend yield of 6.90%. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio is currently 284.62%.

About TELUS

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.