Anson Funds Management LP Purchases 100,000 Shares of TELUS Corporation $TU

Key Points

• Anson Funds Management LP increased its stake in TELUS Corporation by 66.7%, owning a total of 250,000 shares valued at approximately $3.47 million after acquiring an additional 100,000 shares.
• TELUS recently announced a quarterly dividend increase to $0.3019, resulting in an annualized dividend of $1.21 and a yield of 7.3%.
• The company reported earnings of $0.16 per share for the last quarter, missing analysts' estimates by $0.01, with a revenue of $3.74 billion, surpassing expectations.

Anson Funds Management LP raised its position in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 66.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,000 shares of the Wireless communications provider's stock after acquiring an additional 100,000 shares during the quarter. Anson Funds Management LP's holdings in TELUS were worth $3,470,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp increased its holdings in TELUS by 22.6% during the 4th quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after purchasing an additional 9,068,181 shares during the period. Vanguard Group Inc. increased its stake in shares of TELUS by 1.5% during the first quarter. Vanguard Group Inc. now owns 26,185,917 shares of the Wireless communications provider's stock valued at $375,585,000 after buying an additional 384,510 shares during the period. Scotia Capital Inc. raised its holdings in shares of TELUS by 4.7% during the first quarter. Scotia Capital Inc. now owns 18,553,552 shares of the Wireless communications provider's stock valued at $266,146,000 after acquiring an additional 831,282 shares in the last quarter. Fiera Capital Corp lifted its stake in TELUS by 1.2% in the first quarter. Fiera Capital Corp now owns 16,270,907 shares of the Wireless communications provider's stock worth $233,606,000 after acquiring an additional 192,599 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in TELUS by 4.8% in the fourth quarter. Toronto Dominion Bank now owns 10,344,369 shares of the Wireless communications provider's stock valued at $140,086,000 after acquiring an additional 475,625 shares in the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Scotiabank reaffirmed an "outperform" rating on shares of TELUS in a research report on Tuesday, July 15th. National Bankshares restated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Canaccord Genuity Group lifted their price objective on TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $21.50.

TELUS Price Performance

Shares of TU opened at $16.5850 on Friday. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $17.26. The firm's 50-day simple moving average is $16.23 and its two-hundred day simple moving average is $15.57. The stock has a market cap of $25.29 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 4.88 and a beta of 0.73. 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 issued its quarterly earnings results 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). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.3019 dividend. This is an increase from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Wednesday, September 10th. TELUS's payout ratio is currently 263.04%.

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.

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