Analysts Set TELUS Co. (NYSE:TU) Price Target at $21.50

Shares of TELUS Co. (NYSE:TU - Get Free Report) TSE: T have earned a consensus rating of "Hold" from the eight analysts that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $21.50.

A number of brokerages have recently commented on TU. Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Cormark lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Canaccord Genuity Group lifted 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. Finally, National Bankshares reiterated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TU. Mackenzie Financial Corp lifted its holdings in TELUS by 22.6% in the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after buying an additional 9,068,181 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of TELUS by 196.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,836,479 shares of the Wireless communications provider's stock valued at $169,735,000 after purchasing an additional 7,840,264 shares during the period. Bank of Nova Scotia lifted its stake in shares of TELUS by 28.3% in the 4th quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock valued at $409,662,000 after purchasing an additional 6,659,564 shares during the period. Norges Bank acquired a new position in shares of TELUS in the 4th quarter valued at about $70,212,000. Finally, Federation des caisses Desjardins du Quebec lifted its stake in TELUS by 9.2% in the first quarter. Federation des caisses Desjardins du Quebec now owns 22,899,251 shares of the Wireless communications provider's stock valued at $328,588,000 after buying an additional 1,938,521 shares during the period. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Price Performance

TELUS stock traded up $0.02 during mid-day trading on Friday, reaching $16.14. The company had a trading volume of 2,321,794 shares, compared to its average volume of 2,930,663. TELUS has a fifty-two week low of $13.24 and a fifty-two week 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. The company has a market cap of $24.43 billion, a P/E ratio of 32.93, a P/E/G ratio of 5.18 and a beta of 0.74. The business has a fifty day simple moving average of $15.55 and a 200 day simple moving average of $14.92.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be given a $0.2989 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.41%. This is an increase from TELUS's previous quarterly dividend of $0.28. TELUS's payout ratio is 212.28%.

About TELUS

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.