BlackRock Inc. purchased a new stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 291,339 shares of the Wireless communications provider's stock, valued at approximately $3,079,000.
Several other institutional investors also recently modified their holdings of the business. Manchester Capital Management LLC boosted its holdings in shares of TELUS by 320.0% during the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider's stock valued at $30,000 after acquiring an additional 1,712 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of TELUS by 129.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider's stock worth $33,000 after acquiring an additional 1,393 shares during the period. Trust Co. of Vermont purchased a new position in shares of TELUS during the second quarter valued at approximately $55,000. Kestra Advisory Services LLC purchased a new position in shares of TELUS during the fourth quarter valued at approximately $55,000. Finally, State of Wyoming bought a new position in TELUS during the second quarter valued at approximately $61,000. 49.40% of the stock is owned by hedge funds and other institutional investors.
TELUS Price Performance
NYSE TU opened at $9.68 on Friday. The company has a market capitalization of $15.24 billion, a PE ratio of -23.61, a price-to-earnings-growth ratio of 13.24 and a beta of 0.63. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.62 and a current ratio of 0.67. The business's fifty day moving average is $10.06 and its 200 day moving average is $11.74. TELUS Corporation has a fifty-two week low of $9.20 and a fifty-two week high of $16.65.
TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. Sell-side analysts predict that TELUS Corporation will post 0.24 earnings per share for the current year.
TELUS Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Thursday, September 10th. TELUS's dividend payout ratio is currently -295.12%.
Analyst Upgrades and Downgrades
A number of research firms have commented on TU. Weiss Ratings downgraded shares of TELUS from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, August 5th. National Bank Financial cut TELUS from an "outperform" rating to a "sector perform" rating in a report on Tuesday, August 4th. Royal Bank Of Canada downgraded TELUS from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, August 4th. TD Securities reaffirmed a "buy" rating on shares of TELUS in a report on Monday, August 3rd. Finally, Morgan Stanley cut TELUS to an "underweight" rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $15.33.
Check Out Our Latest Report on TELUS
About TELUS
(
Free Report)
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.
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