DORCHESTER WEALTH MANAGEMENT Co Purchases 17,472 Shares of TELUS Co. (NYSE:TU)

DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 10.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,634 shares of the Wireless communications provider’s stock after buying an additional 17,472 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in TELUS were worth $2,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. National Bank of Canada FI raised its position in shares of TELUS by 24.2% during the third quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock valued at $438,922,000 after buying an additional 5,094,269 shares during the last quarter. Fiera Capital Corp raised its position in shares of TELUS by 1.3% during the third quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider’s stock valued at $283,854,000 after buying an additional 211,815 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of TELUS by 0.7% during the third quarter. Janus Henderson Group PLC now owns 6,701,819 shares of the Wireless communications provider’s stock valued at $112,610,000 after buying an additional 49,088 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. raised its position in shares of TELUS by 8.9% during the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,233,944 shares of the Wireless communications provider’s stock valued at $54,249,000 after buying an additional 263,774 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in shares of TELUS by 13.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock valued at $44,785,000 after buying an additional 317,000 shares during the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 1.2 %

Shares of TU opened at $15.60 on Friday. The company’s fifty day moving average is $14.23 and its 200 day moving average is $15.41. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $18.16. The stock has a market capitalization of $23.39 billion, a PE ratio of 31.83, a P/E/G ratio of 5.18 and a beta of 0.75. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same period in the previous year, the firm earned $0.10 earnings per share. Sell-side analysts expect that TELUS Co. will post 0.71 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.2829 per share. This represents a $1.13 annualized dividend and a yield of 7.26%. The ex-dividend date of this dividend is Tuesday, March 11th. TELUS’s payout ratio is 232.65%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Scotiabank upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. Morgan Stanley started coverage on shares of TELUS in a research report on Monday, December 16th. They issued an “equal weight” rating on the stock. National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. Finally, StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, TELUS has an average rating of “Hold” and an average target price of $26.00.

About TELUS

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.