Nicola Wealth Management LTD. Has $16.12 Million Position in TELUS Corporation $TU

Nicola Wealth Management LTD. cut its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 42.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,223,219 shares of the Wireless communications provider’s stock after selling 902,200 shares during the quarter. TELUS comprises 1.5% of Nicola Wealth Management LTD.’s portfolio, making the stock its 24th biggest holding. Nicola Wealth Management LTD. owned 0.08% of TELUS worth $16,124,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. First Trust Advisors LP increased its holdings in shares of TELUS by 11.0% during the 3rd quarter. First Trust Advisors LP now owns 7,478,636 shares of the Wireless communications provider’s stock worth $117,922,000 after acquiring an additional 743,471 shares during the last quarter. Summit Global Investments bought a new stake in TELUS in the 3rd quarter valued at $894,000. Harvest Portfolios Group Inc. boosted its stake in TELUS by 108.8% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 423,285 shares of the Wireless communications provider’s stock valued at $6,667,000 after purchasing an additional 220,552 shares during the period. Vanguard Group Inc. boosted its stake in TELUS by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 28,553,587 shares of the Wireless communications provider’s stock valued at $449,748,000 after purchasing an additional 1,255,029 shares during the period. Finally, TD Asset Management Inc boosted its stake in TELUS by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 36,863,219 shares of the Wireless communications provider’s stock valued at $580,740,000 after purchasing an additional 550,574 shares during the period. 49.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.50 to $16.00 in a research note on Tuesday, March 10th. TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded TELUS from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. TD Cowen upgraded TELUS from a “hold” rating to a “buy” rating in a research note on Tuesday, April 28th. Finally, Canaccord Genuity Group downgraded TELUS from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.33.

TELUS Stock Performance

NYSE:TU opened at $12.50 on Monday. The stock has a fifty day moving average price of $12.62 and a 200-day moving average price of $13.22. The company has a market cap of $19.67 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 12.27 and a beta of 0.61. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.63 and a current ratio of 0.67. TELUS Corporation has a fifty-two week low of $11.69 and a fifty-two week high of $16.74.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. As a group, equities analysts anticipate that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.4184 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date is Wednesday, June 10th. TELUS’s dividend payout ratio is presently 279.55%.

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.