TELUS Corporation $TU Stock Position Trimmed by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. reduced its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 778,400 shares of the Wireless communications provider’s stock after selling 6,100 shares during the quarter. TELUS comprises approximately 5.0% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 8th biggest holding. Heathbridge Capital Management Ltd. owned approximately 0.05% of TELUS worth $12,478,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TU. NBC Securities Inc. raised its stake in TELUS by 112,425.0% in the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider’s stock valued at $64,000 after purchasing an additional 4,497 shares in the last quarter. Farther Finance Advisors LLC raised its stake in TELUS by 71.9% in the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock valued at $33,000 after purchasing an additional 971 shares in the last quarter. Cardinal Capital Management Inc. raised its stake in TELUS by 1.8% in the first quarter. Cardinal Capital Management Inc. now owns 381,871 shares of the Wireless communications provider’s stock valued at $5,479,000 after purchasing an additional 6,780 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in TELUS in the first quarter valued at approximately $883,000. Finally, Intact Investment Management Inc. raised its stake in TELUS by 3.5% in the first quarter. Intact Investment Management Inc. now owns 1,921,762 shares of the Wireless communications provider’s stock valued at $27,567,000 after purchasing an additional 64,300 shares in the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TU shares. Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a research note on Tuesday, July 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of TELUS in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.50.

TELUS Stock Down 0.1%

Shares of NYSE TU opened at $15.52 on Wednesday. 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 one year low of $13.24 and a one year high of $16.74. The stock has a market capitalization of $23.82 billion, a P/E ratio of 33.73, a PEG ratio of 4.58 and a beta of 0.71. The firm’s 50 day simple moving average is $16.09 and its two-hundred day simple moving average is $15.76.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts expect that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were issued a $0.3019 dividend. This represents a $1.21 annualized dividend and a yield of 7.8%. This is an increase from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, September 10th. TELUS’s dividend payout ratio (DPR) is presently 263.04%.

TELUS 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.