LPL Financial LLC Has $4.31 Million Holdings in TELUS Corporation (NYSE:TU)

LPL Financial LLC increased its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 7.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 300,831 shares of the Wireless communications provider’s stock after purchasing an additional 21,304 shares during the quarter. LPL Financial LLC’s holdings in TELUS were worth $4,314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TU. Mackenzie Financial Corp raised its position in shares of 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 purchasing an additional 9,068,181 shares during the period. Man Group plc raised its position in shares of TELUS by 68.2% in the fourth quarter. Man Group plc now owns 2,099,097 shares of the Wireless communications provider’s stock valued at $28,463,000 after purchasing an additional 850,876 shares during the period. Janus Henderson Group PLC raised its position in shares of TELUS by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 7,320,442 shares of the Wireless communications provider’s stock valued at $99,179,000 after purchasing an additional 618,623 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of TELUS by 120.3% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,056,749 shares of the Wireless communications provider’s stock valued at $14,310,000 after purchasing an additional 576,964 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of TELUS by 7.6% in the fourth quarter. First Trust Advisors LP now owns 7,254,608 shares of the Wireless communications provider’s stock valued at $98,372,000 after acquiring an additional 509,976 shares in the last quarter. 49.40% of the stock is owned by institutional investors.

TELUS Trading Down 0.1%

Shares of TELUS stock opened at $16.26 on Friday. The company has a market capitalization of $24.79 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 4.73 and a beta of 0.73. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $17.26. The firm’s 50-day moving average price is $16.19 and its two-hundred day moving average price is $15.49.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.3019 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Wednesday, September 10th. This is an increase from TELUS’s previous quarterly dividend of $0.30. TELUS’s dividend payout ratio is 263.04%.

Wall Street Analysts Forecast Growth

TU has been the topic of several research reports. National Bankshares restated a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. Canaccord Genuity Group increased their price objective 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. Finally, Scotiabank reiterated an “outperform” rating on shares of TELUS in a research note on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.50.

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.