Guardian Capital LP Sells 138,107 Shares of TELUS Corporation $TU

Guardian Capital LP lessened its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 3.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,646,770 shares of the Wireless communications provider’s stock after selling 138,107 shares during the period. TELUS accounts for about 1.9% of Guardian Capital LP’s portfolio, making the stock its 15th largest position. Guardian Capital LP owned approximately 0.24% of TELUS worth $57,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in TELUS by 1.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 779,692 shares of the Wireless communications provider’s stock valued at $11,181,000 after purchasing an additional 11,900 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of TELUS by 15.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 549,012 shares of the Wireless communications provider’s stock worth $8,815,000 after purchasing an additional 74,958 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of TELUS in the 2nd quarter valued at about $294,000. Achmea Investment Management B.V. grew its stake in shares of TELUS by 2,950.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 34,901 shares of the Wireless communications provider’s stock valued at $560,000 after buying an additional 33,757 shares during the period. Finally, Savant Capital LLC bought a new stake in TELUS in the 2nd quarter valued at about $201,000. 49.40% of the stock is owned by institutional investors.

TELUS Price Performance

Shares of NYSE TU opened at $13.73 on Friday. The stock has a market cap of $21.26 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.63 and a beta of 0.68. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.81 and a current ratio of 0.86. TELUS Corporation has a fifty-two week low of $12.54 and a fifty-two week high of $16.74. The firm’s 50-day simple moving average is $13.63 and its 200 day simple moving average is $14.38.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.85 billion. TELUS had a net margin of 5.42% and a return on equity of 8.42%. During the same quarter in the prior year, the business earned $0.25 EPS. As a group, research analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.4184 per share. The ex-dividend date is Wednesday, March 11th. This represents a $1.67 annualized dividend and a yield of 12.2%. TELUS’s dividend payout ratio (DPR) is 230.77%.

Wall Street Analysts Forecast Growth

TU has been the topic of a number of research reports. TD Securities reaffirmed a “buy” rating on shares of TELUS in a research note on Friday, February 13th. Citigroup raised TELUS to a “buy” rating in a research note on Thursday, December 4th. Scotiabank restated an “outperform” rating on shares of TELUS in a report on Tuesday, February 17th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $19.00 target price (down from $22.00) on shares of TELUS in a research report on Tuesday, November 18th. Finally, Barclays cut their target price on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.17.

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.