Triasima Portfolio Management inc. Makes New Investment in TELUS Corporation $TU

Triasima Portfolio Management inc. bought a new stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) in the third quarter, HoldingsChannel reports. The institutional investor bought 100,035 shares of the Wireless communications provider’s stock, valued at approximately $1,576,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of TELUS by 1.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 779,692 shares of the Wireless communications provider’s stock worth $11,181,000 after buying an additional 11,900 shares in the last quarter. Assenagon Asset Management S.A. increased its position in TELUS by 10.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,716 shares of the Wireless communications provider’s stock valued at $204,000 after acquiring an additional 1,196 shares during the period. Golden State Equity Partners bought a new position in shares of TELUS during the second quarter valued at $161,000. Public Employees Retirement System of Ohio lifted its holdings in shares of TELUS by 272.1% during the second quarter. Public Employees Retirement System of Ohio now owns 396,131 shares of the Wireless communications provider’s stock worth $6,361,000 after purchasing an additional 289,662 shares during the period. Finally, Truist Financial Corp increased its holdings in TELUS by 3.5% in the second quarter. Truist Financial Corp now owns 39,397 shares of the Wireless communications provider’s stock valued at $633,000 after purchasing an additional 1,331 shares during the period. Institutional investors own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TU. Weiss Ratings reissued a “hold (c-)” rating on shares of TELUS in a research note on Monday, December 29th. BMO Capital Markets downgraded shares of TELUS from an “outperform” rating to a “market perform” rating in a report on Thursday, December 11th. National Bankshares reissued an “outperform” rating on shares of TELUS in a research report on Thursday, December 4th. Barclays dropped their price objective on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Finally, Natl Bk Canada upgraded TELUS from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.17.

TELUS Stock Down 0.4%

NYSE:TU opened at $13.50 on Tuesday. The firm has a 50-day simple moving average of $13.27 and a two-hundred day simple moving average of $14.95. The firm has a market cap of $20.89 billion, a P/E ratio of 24.54, a P/E/G ratio of 2.04 and a beta of 0.66. TELUS Corporation has a fifty-two week low of $12.54 and a fifty-two week high of $16.74. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.76.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share 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 analysts’ expectations of $3.77 billion. TELUS had a net margin of 5.71% and a return on equity of 8.76%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. 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. Shareholders of record on Thursday, December 11th were paid a $0.4184 dividend. This represents a $1.67 annualized dividend and a yield of 12.4%. The ex-dividend date was Thursday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.30. TELUS’s dividend payout ratio is currently 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.