Nuveen LLC Invests $5.50 Million in TELUS Corporation $TU

Key Points

• Nuveen LLC has acquired a new stake in TELUS Corporation, purchasing 383,768 shares valued at approximately $5.5 million during the first quarter.
• TELUS recently declared an increased quarterly dividend of $0.3019 per share, yielding 7.3%, with a payout ratio currently at 260.87%.
• Analysts have given TELUS an average rating of "Hold" with a consensus target price of $21.50, following a missed EPS estimate for the quarter.

Nuveen LLC purchased a new stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 383,768 shares of the Wireless communications provider's stock, valued at approximately $5,504,000.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in TELUS by 71.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock worth $33,000 after purchasing an additional 971 shares during the period. NBC Securities Inc. grew its position in TELUS by 112,425.0% in the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 4,497 shares during the period. Optiver Holding B.V. bought a new stake in TELUS in the 4th quarter worth approximately $120,000. Trust Co. of Vermont grew its position in TELUS by 10.5% in the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock worth $121,000 after purchasing an additional 800 shares during the period. Finally, TD Private Client Wealth LLC grew its position in TELUS by 175.4% in the 1st quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider's stock worth $149,000 after purchasing an additional 6,624 shares during the period. Institutional investors own 49.40% of the company's stock.

TELUS Price Performance

Shares of TU traded up $0.07 during trading hours on Friday, reaching $16.51. 2,678,941 shares of the stock traded hands, compared to its average volume of 2,945,915. 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 52-week low of $13.24 and a 52-week high of $17.26. The company's 50-day moving average price is $16.27 and its two-hundred day moving average price is $15.63. The company has a market cap of $25.17 billion, a P/E ratio of 35.88, a price-to-earnings-growth ratio of 4.83 and a beta of 0.73.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The firm had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.63 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. On average, analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Canaccord Genuity Group lifted their target price on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research report 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 reiterated an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $21.50.

TELUS 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.