Forsta AP Fonden Acquires 172,300 Shares of TELUS Corporation $TU

Forsta AP Fonden raised its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 51.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 508,200 shares of the Wireless communications provider’s stock after purchasing an additional 172,300 shares during the period. Forsta AP Fonden’s holdings in TELUS were worth $6,693,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new stake in TELUS in the 4th quarter valued at about $33,000. State of Wyoming bought a new stake in TELUS in the 2nd quarter valued at about $61,000. Employees Retirement System of Texas bought a new stake in TELUS in the 3rd quarter valued at about $64,000. Northwestern Mutual Wealth Management Co. boosted its holdings in TELUS by 37.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 4,585 shares of the Wireless communications provider’s stock valued at $72,000 after purchasing an additional 1,241 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of TELUS by 67.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock valued at $140,000 after buying an additional 3,510 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TU. Canaccord Genuity Group cut shares of TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. TD Cowen upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Finally, Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.50 to $16.00 in a research report on Tuesday, March 10th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.33.

TELUS Price Performance

TU stock opened at $12.56 on Tuesday. The company has a 50 day simple moving average of $12.53 and a 200 day simple moving average of $13.13. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 12.33 and a beta of 0.61. TELUS Corporation has a 1 year low of $11.69 and a 1 year high of $16.74. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63.

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

TELUS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be paid a dividend of $0.4184 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.67 annualized dividend and a yield of 13.3%. TELUS’s dividend payout ratio is currently 279.55%.

TELUS 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.