Atria Investments Inc Invests $294,000 in TELUS Corporation $TU

Atria Investments Inc acquired a new stake in TELUS Corporation (NYSE:TU) (TSE:T) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,280 shares of the Wireless communications provider’s stock, valued at approximately $294,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in TELUS by 26.1% in the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after acquiring an additional 667 shares during the period. CWM LLC grew its stake in shares of TELUS by 169.6% in the second quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 2,301 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in TELUS in the first quarter valued at $134,000. Golden State Equity Partners acquired a new stake in TELUS in the second quarter valued at $161,000. Finally, Private Advisor Group LLC raised its position in TELUS by 13.7% during the 1st quarter. Private Advisor Group LLC now owns 13,190 shares of the Wireless communications provider’s stock worth $189,000 after purchasing an additional 1,590 shares during the last quarter. 49.40% of the stock is owned by institutional investors.

TELUS Price Performance

TELUS stock opened at $14.69 on Thursday. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 6.22 and a beta of 0.71. TELUS Corporation has a 52-week low of $13.24 and a 52-week high of $16.74. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.81 and a current ratio of 0.76. The stock’s 50 day moving average price is $15.40 and its two-hundred day moving average price is $15.86.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a net margin of 5.71% and a return on equity of 8.76%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, equities analysts predict that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be issued a dividend of $0.4184 per share. This is an increase from TELUS’s previous quarterly dividend of $0.30. This represents a $1.67 annualized dividend and a dividend yield of 11.4%. The ex-dividend date is Thursday, December 11th. TELUS’s dividend payout ratio (DPR) is currently 220.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TU shares. Barclays reduced their price target on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of TELUS in a research note on Thursday, October 30th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.75.

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.