Aigen Investment Management LP Takes $1.24 Million Position in TELUS Corporation (NYSE:TU)

Key Points

• Aigen Investment Management LP has invested $1.24 million in TELUS Corporation by acquiring 86,746 shares, marking a new position in the company.
• TELUS has reported a quarterly dividend increase to $0.3019, which corresponds to an annualized dividend yield of 7.5%, compared to the previous quarterly dividend of $0.30.
• The company has a current consensus rating of "Hold" from seven analysts, with a target price of $21.50 according to recent research ratings.

Aigen Investment Management LP acquired a new stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 86,746 shares of the Wireless communications provider's stock, valued at approximately $1,244,000.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in TELUS by 29.8% during the fourth quarter. Geode Capital Management LLC now owns 3,032,404 shares of the Wireless communications provider's stock valued at $42,389,000 after purchasing an additional 696,744 shares during the period. Invesco Ltd. grew its stake in shares of TELUS by 3.1% during the fourth quarter. Invesco Ltd. now owns 10,993,662 shares of the Wireless communications provider's stock valued at $149,074,000 after buying an additional 326,531 shares during the last quarter. Legal & General Group Plc bought a new position in TELUS in the fourth quarter worth approximately $190,000. Raymond James Financial Inc. bought a new position in TELUS in the fourth quarter worth approximately $2,085,000. Finally, Barclays PLC grew its stake in TELUS by 21.0% in the fourth quarter. Barclays PLC now owns 565,398 shares of the Wireless communications provider's stock worth $7,667,000 after purchasing an additional 98,250 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company's stock.

TELUS Stock Performance

NYSE TU traded up $0.19 during trading hours on Wednesday, hitting $16.25. The company had a trading volume of 3,296,112 shares, compared to its average volume of 3,195,054. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.26. The company has a market cap of $24.78 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 4.67 and a beta of 0.73. The business has a 50 day moving average of $16.20 and a 200-day moving average of $15.47. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.63 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. TELUS's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. As a group, equities research analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.3019 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.21 annualized dividend and a dividend yield of 7.4%. This is a boost from TELUS's previous quarterly dividend of $0.30. TELUS's dividend payout ratio is presently 263.04%.

Wall Street Analyst Weigh In

TU has been the topic of several research analyst reports. Canaccord Genuity Group increased their price objective on TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research note on Monday, May 12th. National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Finally, Scotiabank reissued an "outperform" rating on shares of TELUS in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy 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 $21.50.

TELUS Company Profile

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.