Mackenzie Financial Corp Sells 127,141 Shares of TELUS Corporation $TU

Mackenzie Financial Corp cut its position in TELUS Corporation (NYSE:TU) (TSE:T) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 32,362,619 shares of the Wireless communications provider’s stock after selling 127,141 shares during the period. Mackenzie Financial Corp owned approximately 2.11% of TELUS worth $509,618,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TU. Geode Capital Management LLC raised its stake in shares of TELUS by 20.8% in the second quarter. Geode Capital Management LLC now owns 4,529,471 shares of the Wireless communications provider’s stock worth $76,335,000 after purchasing an additional 780,607 shares during the last quarter. Scotia Capital Inc. boosted its position in shares of TELUS by 1.6% during the second quarter. Scotia Capital Inc. now owns 18,842,084 shares of the Wireless communications provider’s stock valued at $302,519,000 after buying an additional 288,532 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of TELUS during the second quarter valued at $51,091,000. Prudential PLC bought a new stake in TELUS in the 2nd quarter worth about $531,000. Finally, SG Americas Securities LLC bought a new stake in TELUS in the 2nd quarter worth about $457,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Stock Up 0.3%

TU opened at $13.72 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. TELUS Corporation has a 1-year low of $12.54 and a 1-year high of $16.74. The company has a market capitalization of $21.24 billion, a PE ratio of 26.38, a PEG ratio of 1.61 and a beta of 0.68. The firm’s 50 day simple moving average is $13.66 and its two-hundred day simple moving average is $14.31.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $3.83 billion for 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 period in the previous year, the firm earned $0.25 EPS. As a group, equities analysts forecast that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Dividend Announcement

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

Analyst Ratings Changes

TU has been the topic of several research analyst reports. Canaccord Genuity Group upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of TELUS in a research note on Monday, December 29th. Scotiabank reissued an “outperform” rating on shares of TELUS in a report on Tuesday, February 17th. Citigroup upgraded shares of TELUS to a “buy” rating in a research report on Thursday, December 4th. Finally, TD Securities restated a “buy” rating on shares of TELUS in a report on Friday, February 13th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, TELUS currently has a consensus rating of “Moderate Buy” and an average target price of $17.63.

About TELUS

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.