Envestnet Asset Management Inc. Has $8.82 Million Position in TELUS Corporation $TU

Envestnet Asset Management Inc. lifted its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 15.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 549,012 shares of the Wireless communications provider’s stock after buying an additional 74,958 shares during the quarter. Envestnet Asset Management Inc.’s holdings in TELUS were worth $8,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. raised its holdings in TELUS by 26.1% in the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after acquiring an additional 667 shares during the period. CWM LLC lifted its holdings in TELUS by 169.6% during the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 2,301 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in TELUS during the 1st quarter worth approximately $134,000. Golden State Equity Partners bought a new stake in TELUS in the 2nd quarter valued at $161,000. Finally, Private Advisor Group LLC grew its holdings in TELUS by 13.7% in the 1st quarter. Private Advisor Group LLC now owns 13,190 shares of the Wireless communications provider’s stock valued at $189,000 after buying an additional 1,590 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Price Performance

Shares of NYSE TU opened at $14.79 on Monday. The business has a fifty day moving average price of $15.50 and a two-hundred day moving average price of $15.87. The stock has a market capitalization of $22.69 billion, a PE ratio of 26.88, a P/E/G ratio of 4.45 and a beta of 0.71. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.86 and a quick ratio of 0.81. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $16.74.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). TELUS had a return on equity of 8.92% and a net margin of 5.71%.The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts predict that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be given a $0.4184 dividend. This represents a $1.67 annualized dividend and a dividend yield of 11.3%. The ex-dividend date is Thursday, December 11th. This is a boost from TELUS’s previous quarterly dividend of $0.30. TELUS’s dividend payout ratio is presently 220.00%.

Analyst Ratings Changes

TU has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of TELUS in a research report on Thursday, October 30th. Scotiabank restated an “outperform” rating on shares of TELUS in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.50.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.