Reaves W H & Co. Inc. Has $2.80 Million Stake in TELUS Co. (NYSE:TU)

Reaves W H & Co. Inc. decreased its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 68.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 157,397 shares of the Wireless communications provider's stock after selling 336,929 shares during the period. Reaves W H & Co. Inc.'s holdings in TELUS were worth $2,800,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. VisionPoint Advisory Group LLC lifted its position in shares of TELUS by 80.8% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider's stock worth $27,000 after acquiring an additional 739 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of TELUS in the 4th quarter worth approximately $33,000. CVA Family Office LLC bought a new stake in shares of TELUS in the 4th quarter worth approximately $49,000. CWM LLC lifted its position in shares of TELUS by 104.3% in the 4th quarter. CWM LLC now owns 3,891 shares of the Wireless communications provider's stock worth $69,000 after acquiring an additional 1,986 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of TELUS in the 3rd quarter worth approximately $172,000. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Trading Down 1.8 %

Shares of NYSE TU traded down $0.30 during midday trading on Friday, hitting $16.11. The stock had a trading volume of 4,331,018 shares, compared to its average volume of 2,297,788. The company's 50-day simple moving average is $16.35 and its 200 day simple moving average is $17.24. The firm has a market cap of $23.78 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 2.01 and a beta of 0.71. TELUS Co. has a fifty-two week low of $15.35 and a fifty-two week high of $20.67. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.62.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.24 billion. During the same period last year, the firm earned $0.17 EPS. The business's revenue for the quarter was up 2.8% on a year-over-year basis. Research analysts anticipate that TELUS Co. will post 0.76 EPS for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be paid a dividend of $0.282 per share. The ex-dividend date is Monday, June 10th. This is a boost from TELUS's previous quarterly dividend of $0.28. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.00%. TELUS's payout ratio is 258.14%.

Wall Street Analyst Weigh In

TU has been the subject of several analyst reports. BMO Capital Markets cut their target price on TELUS from $27.00 to $26.00 and set an "outperform" rating for the company in a research report on Monday, February 12th. StockNews.com downgraded TELUS from a "hold" rating to a "sell" rating in a research report on Tuesday, March 26th. Finally, Scotiabank restated a "sector perform" rating and set a $26.00 target price (down previously from $28.00) on shares of TELUS in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $27.72.

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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