Citadel Advisors LLC Has $443,000 Stake in TELUS Corporation (TU)
Citadel Advisors LLC lifted its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 58.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,300 shares of the Wireless communications provider’s stock after purchasing an additional 4,550 shares during the quarter. Citadel Advisors LLC’s holdings in TELUS were worth $443,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in TELUS by 237.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the Wireless communications provider’s stock worth $130,000 after acquiring an additional 2,662 shares during the last quarter. OLD National Bancorp IN purchased a new position in TELUS in the 3rd quarter worth approximately $208,000. Wells Fargo & Company MN raised its holdings in TELUS by 38.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,544 shares of the Wireless communications provider’s stock worth $226,000 after acquiring an additional 1,833 shares during the last quarter. Financial Counselors Inc. raised its holdings in TELUS by 3.6% in the 2nd quarter. Financial Counselors Inc. now owns 6,840 shares of the Wireless communications provider’s stock worth $236,000 after acquiring an additional 240 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in TELUS in the 2nd quarter worth approximately $264,000. 52.23% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on TU shares. Zacks Investment Research lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 12th. Scotiabank upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 25th. Royal Bank of Canada upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $47.00 to $51.00 in a report on Friday, November 10th. Barclays boosted their price objective on shares of TELUS from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Finally, Morgan Stanley boosted their target price on shares of TELUS from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, November 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. TELUS presently has a consensus rating of “Buy” and a consensus price target of $45.14.
Shares of TELUS Corporation (TU) remained flat at $$37.65 on Wednesday. 331,100 shares of the company’s stock were exchanged, compared to its average volume of 413,231. The firm has a market capitalization of $22,384.02, a PE ratio of 18.92, a price-to-earnings-growth ratio of 2.32 and a beta of 0.92. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.44. TELUS Corporation has a one year low of $31.23 and a one year high of $38.50.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a dividend of $0.505 per share. The ex-dividend date of this dividend is Friday, December 8th. This is a positive change from TELUS’s previous quarterly dividend of $0.39. This represents a $2.02 dividend on an annualized basis and a yield of 5.37%. TELUS’s payout ratio is currently 98.15%.
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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 (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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