TELUS Corporation (TU) Now Covered by Analysts at Bank of America Corporation
Bank of America Corporation initiated coverage on shares of TELUS Corporation (NYSE:TU) (TSE:T) in a research report sent to investors on Tuesday morning. The firm issued a neutral rating and a $39.00 price objective on the Wireless communications provider’s stock.
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of TELUS Corporation from a strong-buy rating to a buy rating in a research note on Saturday, August 12th. Morgan Stanley increased their target price on shares of TELUS Corporation from $48.00 to $51.00 and gave the stock an equal weight rating in a research note on Friday, November 17th. Zacks Investment Research downgraded shares of TELUS Corporation from a strong-buy rating to a hold rating in a research note on Tuesday, September 12th. BMO Capital Markets raised their price objective on shares of TELUS Corporation from $46.00 to $47.00 and gave the company an outperform rating in a research report on Monday, August 14th. Finally, Royal Bank Of Canada upgraded shares of TELUS Corporation from a sector perform rating to an outperform rating and raised their price objective for the company from $47.00 to $51.00 in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $45.14.
Shares of TELUS Corporation (NYSE TU) opened at $38.11 on Tuesday. TELUS Corporation has a 12 month low of $30.96 and a 12 month high of $38.47. The firm has a market cap of $22,627.77, a PE ratio of 19.13, a PEG ratio of 2.33 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.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a $0.505 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.02 dividend on an annualized basis and a yield of 5.30%. This is an increase from TELUS Corporation’s previous quarterly dividend of $0.39. TELUS Corporation’s dividend payout ratio (DPR) is presently 97.53%.
A number of large investors have recently made changes to their positions in TU. Creative Planning increased its holdings in TELUS Corporation by 2.9% in the second quarter. Creative Planning now owns 11,796 shares of the Wireless communications provider’s stock valued at $407,000 after buying an additional 333 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in TELUS Corporation in the second quarter valued at about $1,090,000. Russell Investments Group Ltd. increased its holdings in TELUS Corporation by 63.1% in the second quarter. Russell Investments Group Ltd. now owns 1,320,893 shares of the Wireless communications provider’s stock valued at $45,563,000 after buying an additional 511,088 shares in the last quarter. Baskin Financial Services Inc. increased its holdings in TELUS Corporation by 1.2% in the second quarter. Baskin Financial Services Inc. now owns 263,544 shares of the Wireless communications provider’s stock valued at $9,088,000 after buying an additional 3,229 shares in the last quarter. Finally, Shell Asset Management Co. increased its holdings in TELUS Corporation by 0.4% in the second quarter. Shell Asset Management Co. now owns 451,399 shares of the Wireless communications provider’s stock valued at $20,209,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 50.62% of the company’s stock.
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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