TELUS Co. (NYSE:TU) Shares Bought by Ninepoint Partners LP

Ninepoint Partners LP boosted its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,352 shares of the Wireless communications provider’s stock after buying an additional 6,423 shares during the period. TELUS makes up 0.4% of Ninepoint Partners LP’s holdings, making the stock its 26th largest position. Ninepoint Partners LP’s holdings in TELUS were worth $2,608,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board increased its position in TELUS by 2.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider’s stock valued at $1,297,000 after buying an additional 1,500 shares in the last quarter. Versant Capital Management Inc grew its stake in TELUS by 195,100.0% during the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock valued at $26,000 after purchasing an additional 1,951 shares during the last quarter. Northwest & Ethical Investments L.P. grew its stake in TELUS by 0.5% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 449,777 shares of the Wireless communications provider’s stock valued at $7,547,000 after purchasing an additional 2,196 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in TELUS by 3.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 87,419 shares of the Wireless communications provider’s stock valued at $1,185,000 after purchasing an additional 2,840 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in TELUS by 7.5% during the 3rd quarter. Cerity Partners LLC now owns 42,341 shares of the Wireless communications provider’s stock valued at $710,000 after purchasing an additional 2,964 shares during the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on TU. National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. Cormark downgraded TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Morgan Stanley started coverage on TELUS in a research note on Monday, December 16th. They issued an “equal weight” rating on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, TELUS has a consensus rating of “Hold” and a consensus price target of $26.00.

TELUS Stock Down 0.0 %

Shares of TU opened at $15.00 on Friday. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 5.18 and a beta of 0.72. The stock’s 50-day moving average price is $14.76 and its 200-day moving average price is $15.35.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same quarter in the prior year, the business earned $0.10 earnings per share. On average, sell-side analysts predict that TELUS Co. will post 0.71 EPS for the current year.

TELUS Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be issued a $0.2829 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.55%. TELUS’s payout ratio is 226.53%.

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.