Guardian Capital LP Has $89.74 Million Position in TELUS Corporation (TU)
Guardian Capital LP decreased its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,602,417 shares of the Wireless communications provider’s stock after selling 54,846 shares during the period. TELUS Corporation comprises about 1.4% of Guardian Capital LP’s holdings, making the stock its 22nd largest position. Guardian Capital LP owned approximately 0.44% of TELUS Corporation worth $89,741,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of TELUS Corporation by 237.7% during the second quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the Wireless communications provider’s stock valued at $130,000 after buying an additional 2,662 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of TELUS Corporation during the second quarter valued at approximately $156,000. Perkins Coie Trust Co purchased a new position in shares of TELUS Corporation during the second quarter valued at approximately $173,000. Kassirer Asset Management Corp purchased a new position in shares of TELUS Corporation during the second quarter valued at approximately $209,000. Finally, Financial Counselors Inc. boosted its position in shares of TELUS Corporation by 1.8% during the first quarter. Financial Counselors Inc. now owns 6,600 shares of the Wireless communications provider’s stock valued at $214,000 after buying an additional 118 shares during the last quarter. 51.02% of the stock is currently owned by institutional investors.
Shares of TELUS Corporation (TU) traded down 0.69% during mid-day trading on Friday, reaching $35.97. The company had a trading volume of 393,974 shares. TELUS Corporation has a one year low of $30.31 and a one year high of $36.94. The company has a 50 day moving average price of $35.97 and a 200 day moving average price of $34.21. The company has a market capitalization of $21.37 billion, a price-to-earnings ratio of 20.92 and a beta of 0.89.
TELUS Corporation (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.26 billion. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. TELUS Corporation’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. On average, analysts anticipate that TELUS Corporation will post $2.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.3884 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.55 annualized dividend and a dividend yield of 4.32%. TELUS Corporation’s payout ratio is 100.00%.
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TU has been the topic of several analyst reports. Zacks Investment Research raised TELUS Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Friday, July 14th. BidaskClub upgraded TELUS Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Barclays PLC lifted their price target on TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. Finally, BMO Capital Markets lifted their price target on TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. TELUS Corporation has a consensus rating of “Buy” and an average price target of $43.50.
About TELUS Corporation
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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