Tidal Investments LLC Grows Stake in TELUS Co. (NYSE:TU)

Tidal Investments LLC boosted its stake in TELUS Co. (NYSE:TU - Free Report) TSE: T by 117.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,607 shares of the Wireless communications provider's stock after purchasing an additional 22,512 shares during the period. Tidal Investments LLC's holdings in TELUS were worth $564,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TU. Maryland State Retirement & Pension System raised its stake in TELUS by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 88,180 shares of the Wireless communications provider's stock worth $1,197,000 after buying an additional 1,346 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in TELUS by 7.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 21,733 shares of the Wireless communications provider's stock worth $294,000 after acquiring an additional 1,500 shares during the period. Beverly Hills Private Wealth LLC raised its position in shares of TELUS by 9.7% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 21,492 shares of the Wireless communications provider's stock worth $291,000 after acquiring an additional 1,901 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of TELUS by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 451,576 shares of the Wireless communications provider's stock worth $6,120,000 after acquiring an additional 3,540 shares in the last quarter. Finally, Ingalls & Snyder LLC lifted its stake in shares of TELUS by 20.4% in the 4th quarter. Ingalls & Snyder LLC now owns 22,980 shares of the Wireless communications provider's stock valued at $312,000 after purchasing an additional 3,900 shares during the period. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Performance

Shares of NYSE TU traded up $0.18 during midday trading on Friday, hitting $16.37. The company's stock had a trading volume of 2,027,963 shares, compared to its average volume of 2,926,652. The stock has a fifty day moving average price of $15.09 and a 200 day moving average price of $14.85. The firm has a market capitalization of $24.78 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 5.18 and a beta of 0.73. TELUS Co. has a one year low of $13.24 and a one year high of $17.27. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be paid a dividend of $0.2989 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.30%. This is a positive change from TELUS's previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, June 10th. TELUS's payout ratio is presently 201.75%.

Analysts Set New Price Targets

A number of research firms have issued reports on TU. National Bankshares restated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Wall Street Zen upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Canaccord Genuity Group raised their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a report on Monday, May 12th. Cormark downgraded shares of TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, TELUS currently has a consensus rating of "Hold" and an average price target 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.