EverSource Wealth Advisors LLC bought a new stake in TELUS Co. (NYSE:TU – Get Rating) (TSE:T) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,043 shares of the Wireless communications provider’s stock, valued at approximately $106,000.
Several other hedge funds have also recently made changes to their positions in TU. Eaton Vance Management raised its stake in shares of TELUS by 18.3% during the 4th quarter. Eaton Vance Management now owns 4,708 shares of the Wireless communications provider’s stock valued at $27,000 after purchasing an additional 728 shares during the period. San Luis Wealth Advisors LLC bought a new stake in shares of TELUS during the 1st quarter valued at $28,000. Citizens National Bank Trust Department bought a new stake in shares of TELUS during the 4th quarter valued at $33,000. Prospera Financial Services Inc bought a new stake in shares of TELUS during the 1st quarter valued at $53,000. Finally, Kempen Capital Management N.V. raised its stake in shares of TELUS by 116.5% during the 1st quarter. Kempen Capital Management N.V. now owns 2,514 shares of the Wireless communications provider’s stock valued at $103,000 after purchasing an additional 1,353 shares during the period. 49.71% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
TU has been the topic of a number of analyst reports. TD Securities upgraded TELUS from a “hold” rating to a “buy” rating in a research note on Friday, June 17th. Scotiabank boosted their target price on TELUS from C$34.00 to C$34.50 in a research report on Tuesday, September 6th. BMO Capital Markets reduced their target price on TELUS from C$37.00 to C$36.00 in a research report on Friday, June 17th. Finally, StockNews.com cut TELUS from a “hold” rating to a “sell” rating in a research report on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.11.
TELUS Price Performance
TELUS (NYSE:TU – Get Rating) (TSE:T) last posted its quarterly earnings data on Friday, August 5th. The Wireless communications provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.45 billion. TELUS had a return on equity of 9.57% and a net margin of 10.35%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 EPS. Equities analysts predict that TELUS Co. will post 1.03 earnings per share for the current fiscal year.
TELUS Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, September 8th. This is a boost from TELUS’s previous quarterly dividend of $0.26. This represents a $1.06 annualized dividend and a yield of 4.89%. TELUS’s dividend payout ratio is currently 97.17%.
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 revenue; mobile technologies equipment sale; data revenues, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services.
- Get a free copy of the StockNews.com research report on TELUS (TU)
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