DT Investment Partners LLC purchased a new stake in shares of Telus Corp. (NYSE:TU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 24,475 shares of the company’s stock, valued at approximately $788,000.
A number of other hedge funds have also bought and sold shares of TU. Clean Yield Group boosted its position in shares of Telus Corp. by 2.2% in the second quarter. Clean Yield Group now owns 115,803 shares of the company’s stock valued at $3,729,000 after buying an additional 2,505 shares during the period. Lucus Advisors LLC bought a new position in shares of Telus Corp. during the second quarter valued at $341,000. K.J. Harrison & Partners Inc bought a new position in shares of Telus Corp. during the second quarter valued at $975,000. NewSquare Capital LLC bought a new position in shares of Telus Corp. during the second quarter valued at $615,000. Finally, Callahan Advisors LLC boosted its position in shares of Telus Corp. by 3.5% in the second quarter. Callahan Advisors LLC now owns 18,175 shares of the company’s stock valued at $585,000 after buying an additional 610 shares during the period. 52.94% of the stock is owned by institutional investors and hedge funds.
Shares of Telus Corp. (NYSE:TU) traded up 0.96% during midday trading on Tuesday, reaching $32.61. The company had a trading volume of 152,213 shares. The stock has a market capitalization of $19.31 billion, a PE ratio of 18.11 and a beta of 0.90. Telus Corp. has a 1-year low of $24.34 and a 1-year high of $34.12. The company’s 50-day moving average is $32.58 and its 200-day moving average is $32.37.
Telus Corp. (NYSE:TU) last posted its earnings results on Friday, August 5th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Telus Corp. had a net margin of 11.26% and a return on equity of 19.92%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the business posted $0.66 EPS. Telus Corp.’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Telus Corp. will post $2.01 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were paid a $0.3505 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.40 dividend on an annualized basis and a yield of 4.30%. Telus Corp.’s payout ratio is presently 77.78%.
Several brokerages have weighed in on TU. Zacks Investment Research upgraded Telus Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Desjardins upgraded Telus Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Canaccord Genuity reiterated a “hold” rating on shares of Telus Corp. in a research note on Friday, August 5th. TheStreet upgraded Telus Corp. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Finally, Barclays PLC lifted their target price on Telus Corp. from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Telus Corp. presently has an average rating of “Hold” and an average target price of $40.67.
About Telus Corp.
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol, television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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