TELUS Corporation $TU Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. lessened its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 9.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,295,522 shares of the Wireless communications provider’s stock after selling 244,501 shares during the quarter. Mufg Securities Canada LTD.’s holdings in TELUS were worth $30,261,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. TD Asset Management Inc lifted its position in shares of TELUS by 1.5% during the third quarter. TD Asset Management Inc now owns 36,863,219 shares of the Wireless communications provider’s stock worth $580,740,000 after purchasing an additional 550,574 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TELUS by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock worth $388,415,000 after purchasing an additional 916,459 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of TELUS by 258.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 19,816,565 shares of the Wireless communications provider’s stock worth $261,727,000 after purchasing an additional 14,285,486 shares in the last quarter. Scotia Capital Inc. lifted its position in shares of TELUS by 4.5% during the third quarter. Scotia Capital Inc. now owns 19,687,766 shares of the Wireless communications provider’s stock worth $310,129,000 after purchasing an additional 845,682 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in shares of TELUS by 10.7% during the third quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider’s stock worth $281,326,000 after purchasing an additional 1,725,982 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Performance

Shares of TU opened at $11.89 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. The company’s 50 day simple moving average is $12.39 and its 200-day simple moving average is $13.02. TELUS Corporation has a 12-month low of $11.69 and a 12-month high of $16.74. The firm has a market cap of $18.71 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 11.67 and a beta of 0.61.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period last year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be issued 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 dividend yield of 14.1%. TELUS’s dividend payout ratio (DPR) is currently 275.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TU shares. TD Cowen raised 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 note on Saturday, May 9th. TD Securities upgraded shares of TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Finally, Canaccord Genuity Group lowered shares of TELUS from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.33.

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.