Federated Hermes Inc. Buys 70,770 Shares of TELUS Corporation $TU

Federated Hermes Inc. raised its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,659,448 shares of the Wireless communications provider’s stock after purchasing an additional 70,770 shares during the quarter. Federated Hermes Inc. owned 0.17% of TELUS worth $41,939,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TU. Blue Trust Inc. increased its position in shares of TELUS by 26.1% in the second 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. Walter Public Investments Inc. grew its stake in shares of TELUS by 1.9% in the third quarter. Walter Public Investments Inc. now owns 39,334 shares of the Wireless communications provider’s stock worth $619,000 after purchasing an additional 750 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in TELUS by 7.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,483 shares of the Wireless communications provider’s stock valued at $181,000 after purchasing an additional 755 shares during the period. Farther Finance Advisors LLC increased its holdings in TELUS by 35.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 759 shares during the period. Finally, Cetera Investment Advisers raised its position in TELUS by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after purchasing an additional 841 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group raised TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. National Bankshares reiterated an “outperform” rating on shares of TELUS in a report on Thursday, December 4th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $19.00 price objective (down from $22.00) on shares of TELUS in a research report on Tuesday, November 18th. Natl Bk Canada upgraded shares of TELUS from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of TELUS in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.17.

TELUS Price Performance

TU opened at $13.91 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.47. The company has a market cap of $21.52 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66. The stock has a fifty day simple moving average of $13.20 and a two-hundred day simple moving average of $14.82. TELUS Corporation has a 12-month low of $12.54 and a 12-month high of $16.74.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). TELUS had a return on equity of 8.76% and a net margin of 5.71%.The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts predict 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 was paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th were given a $0.4184 dividend. The ex-dividend date of this dividend was Thursday, December 11th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 12.0%. This is an increase from TELUS’s previous quarterly dividend of $0.30. TELUS’s payout ratio is presently 218.18%.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.