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

Shares of TELUS Corporation (NYSE:TU - Get Free Report) TSE: T have earned an average rating of "Hold" from the eight research firms 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 1 year target price among brokers that have covered the stock in the last year is $21.50.

Several equities research analysts have recently issued reports on the stock. National Bankshares reissued a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Finally, 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 research note on Monday, May 12th.

TELUS Price Performance

Shares of TU stock traded down $0.05 during mid-day trading on Tuesday, hitting $16.48. 2,392,831 shares of the stock were exchanged, compared to its average volume of 3,006,920. The firm has a fifty day moving average of $16.01 and a 200 day moving average of $15.07. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.49. TELUS has a 52-week low of $13.24 and a 52-week high of $17.27. The company has a market cap of $25.13 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th were paid 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 dividend on an annualized basis and a yield of 7.25%. TELUS's dividend payout ratio (DPR) is currently 212.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TU. Ameriprise Financial Inc. raised its holdings in TELUS by 25.6% in the 4th quarter. Ameriprise Financial Inc. now owns 528,246 shares of the Wireless communications provider's stock valued at $7,249,000 after acquiring an additional 107,806 shares during the last quarter. American Century Companies Inc. raised its holdings in TELUS by 4.6% in the 4th quarter. American Century Companies Inc. now owns 119,665 shares of the Wireless communications provider's stock valued at $1,623,000 after acquiring an additional 5,286 shares during the last quarter. Northern Trust Corp raised its holdings in TELUS by 41.9% in the 4th quarter. Northern Trust Corp now owns 779,525 shares of the Wireless communications provider's stock valued at $10,570,000 after acquiring an additional 230,234 shares during the last quarter. LPL Financial LLC raised its holdings in TELUS by 2.7% in the 4th quarter. LPL Financial LLC now owns 279,527 shares of the Wireless communications provider's stock valued at $3,790,000 after acquiring an additional 7,447 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in TELUS in the 4th quarter valued at about $190,000. 49.40% of the stock is owned by hedge funds and other institutional investors.

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.