Harvest Portfolios Group Inc. Has $11.92 Million Holdings in TELUS Corporation $TU

Harvest Portfolios Group Inc. boosted its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 113.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 904,369 shares of the Wireless communications provider’s stock after acquiring an additional 481,084 shares during the period. Harvest Portfolios Group Inc.’s holdings in TELUS were worth $11,919,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TU. Flagship Harbor Advisors LLC bought a new position in TELUS during the 4th quarter worth about $33,000. State of Wyoming bought a new stake in TELUS during the second quarter worth about $61,000. Employees Retirement System of Texas acquired a new position in TELUS during the third quarter valued at approximately $64,000. Northwestern Mutual Wealth Management Co. boosted its position in TELUS by 37.1% during the third 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 last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in TELUS by 67.7% in the second quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock valued at $140,000 after purchasing an additional 3,510 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 0.2%

Shares of NYSE:TU opened at $12.33 on Wednesday. TELUS Corporation has a 12-month low of $11.69 and a 12-month high of $16.74. The stock has a market cap of $19.09 billion, a PE ratio of 28.01, a P/E/G ratio of 12.14 and a beta of 0.61. The business has a 50 day moving average of $12.69 and a 200-day moving average of $13.27. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59.

TELUS (NYSE:TU) (TSE:T) last issued 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 return on equity of 8.29% and a net margin of 4.54%.The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts forecast that TELUS Corporation will post 0.7 earnings per share for the current year.

TELUS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.4184 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.67 annualized dividend and a yield of 13.6%. TELUS’s dividend payout ratio is presently 279.55%.

Wall Street Analysts Forecast Growth

TU has been the topic of several recent analyst reports. Bank of America raised TELUS from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.50 to $16.00 in a research report on Tuesday, March 10th. Weiss Ratings lowered TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Canaccord Genuity Group lowered TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. TD Cowen raised TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen raised TELUS from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, TELUS currently has a consensus rating of “Hold” and an average price target of $16.33.

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.