AGF Management Ltd. Reduces Holdings in TELUS Corporation $TU

AGF Management Ltd. lowered its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 20.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,540,031 shares of the Wireless communications provider’s stock after selling 634,826 shares during the quarter. AGF Management Ltd.’s holdings in TELUS were worth $40,351,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TU. Parvin Asset Management LLC acquired a new position in TELUS during the 2nd quarter valued at approximately $27,000. Farther Finance Advisors LLC lifted its stake in shares of TELUS by 35.0% during the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 759 shares during the period. Blue Trust Inc. grew its holdings in shares of TELUS by 26.1% during the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after buying an additional 667 shares during the last quarter. CWM LLC increased its position in shares of TELUS by 169.6% in the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after acquiring an additional 2,301 shares during the period. Finally, State of Wyoming purchased a new position in TELUS in the 2nd quarter worth $61,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Trading Down 1.2%

Shares of NYSE:TU opened at $13.80 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.47. TELUS Corporation has a 12-month low of $12.54 and a 12-month high of $16.74. The business has a 50 day moving average of $13.23 and a two-hundred day moving average of $14.76. The company has a market capitalization of $21.35 billion, a PE ratio of 25.08, a PEG ratio of 2.10 and a beta of 0.66.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). TELUS had a net margin of 5.71% and a return on equity of 8.76%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the firm earned $0.28 earnings per share. TELUS’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts forecast that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th were given a dividend of $0.4184 per share. This is a boost from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, December 11th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 12.1%. TELUS’s payout ratio is 216.36%.

Analyst Ratings Changes

A number of brokerages have commented on TU. National Bank Financial raised TELUS from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, November 19th. Barclays decreased their target price on TELUS from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. BMO Capital Markets downgraded shares of TELUS from an “outperform” rating to a “market perform” rating in a report on Thursday, December 11th. Citigroup upgraded shares of TELUS to a “buy” rating in a research note on Thursday, December 4th. Finally, Natl Bk Canada upgraded shares of TELUS from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.17.

About TELUS

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.