TELUS Corporation (NYSE:TU) Given Average Rating of "Hold" by Analysts

Shares of TELUS Corporation (NYSE:TU - Get Free Report) TSE: T have been given a consensus rating of "Hold" by the eight brokerages that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $21.50.

A number of research firms have recently weighed in on TU. Canaccord Genuity Group increased their target price on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a report on Monday, May 12th. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st.

Institutional Trading of TELUS

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JCIC Asset Management Inc. lifted its holdings in TELUS by 8.0% in the first quarter. JCIC Asset Management Inc. now owns 10,784 shares of the Wireless communications provider's stock worth $155,000 after buying an additional 795 shares during the period. Trust Co. of Vermont increased its stake in shares of TELUS by 10.5% during the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock valued at $121,000 after purchasing an additional 800 shares in the last quarter. Walter Public Investments Inc. increased its stake in shares of TELUS by 2.2% during the first quarter. Walter Public Investments Inc. now owns 37,819 shares of the Wireless communications provider's stock valued at $542,000 after purchasing an additional 819 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of TELUS by 71.9% during the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after purchasing an additional 971 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC increased its stake in shares of TELUS by 5.3% during the first quarter. Beverly Hills Private Wealth LLC now owns 22,627 shares of the Wireless communications provider's stock valued at $324,000 after purchasing an additional 1,135 shares in the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Trading Up 1.0%

NYSE TU traded up $0.16 during trading on Tuesday, hitting $16.54. 3,306,537 shares of the company's stock traded hands, compared to its average volume of 3,448,359. The stock has a fifty day moving average of $15.93 and a two-hundred day moving average of $15.03. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.64 and a quick ratio of 0.59. TELUS has a 12-month low of $13.24 and a 12-month high of $17.26. The firm has a market cap of $25.22 billion, a P/E ratio of 29.02, a PEG ratio of 4.95 and a beta of 0.73.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th were issued a $0.2989 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 7.23%. TELUS's dividend payout ratio (DPR) 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.