LPL Financial LLC Acquires 21,304 Shares of TELUS Corporation $TU

Key Points

• LPL Financial LLC has increased its holdings in TELUS Corporation by 7.6%, owning 300,831 shares valued at approximately $4.31 million.
• TELUS recently declared a quarterly dividend of $0.3019, an increase from its previous dividend, resulting in an annualized yield of 7.4%.
• The company reported $3.74 billion in revenue for the last quarter, surpassing analyst expectations, but earnings per share fell short of projections at $0.16.

LPL Financial LLC raised its holdings in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 7.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,831 shares of the Wireless communications provider's stock after purchasing an additional 21,304 shares during the quarter. LPL Financial LLC's holdings in TELUS were worth $4,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in TELUS by 22.6% in the 4th quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock worth $667,840,000 after purchasing an additional 9,068,181 shares during the period. Man Group plc boosted its position in shares of TELUS by 68.2% in the fourth quarter. Man Group plc now owns 2,099,097 shares of the Wireless communications provider's stock valued at $28,463,000 after acquiring an additional 850,876 shares during the period. Janus Henderson Group PLC grew its stake in TELUS by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 7,320,442 shares of the Wireless communications provider's stock valued at $99,179,000 after acquiring an additional 618,623 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in TELUS by 120.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,056,749 shares of the Wireless communications provider's stock worth $14,310,000 after acquiring an additional 576,964 shares during the period. Finally, First Trust Advisors LP increased its holdings in TELUS by 7.6% during the 4th quarter. First Trust Advisors LP now owns 7,254,608 shares of the Wireless communications provider's stock worth $98,372,000 after acquiring an additional 509,976 shares during the period. Institutional investors own 49.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Canaccord Genuity Group boosted their price target on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research report on Monday, May 12th. Scotiabank reissued an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. Finally, National Bankshares restated a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $21.50.

TELUS Price Performance

Shares of TU traded up $0.03 during midday trading on Tuesday, reaching $16.50. The stock had a trading volume of 195,061 shares, compared to its average volume of 3,365,394. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 35.82, a price-to-earnings-growth ratio of 4.76 and a beta of 0.73. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $17.26. The company's 50-day moving average is $16.20 and its 200 day moving average is $15.53.

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). The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. The firm's revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, equities analysts predict that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. The ex-dividend date is Wednesday, September 10th. This is a positive change from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 7.3%. TELUS's dividend payout ratio (DPR) 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.