Mirabella Financial Services LLP Makes New Investment in TELUS Co. (NYSE:TU)

Mirabella Financial Services LLP acquired a new stake in TELUS Co. (NYSE:TU) (TSE:T) in the 3rd quarter, Holdings Channel reports. The firm acquired 269,282 shares of the Wireless communications provider’s stock, valued at approximately $4,521,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in TELUS by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 23,436,455 shares of the Wireless communications provider’s stock valued at $375,218,000 after purchasing an additional 602,440 shares during the period. UniSuper Management Pty Ltd acquired a new stake in TELUS during the first quarter worth about $58,000. Canada Pension Plan Investment Board increased its stake in TELUS by 11.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider’s stock valued at $20,050,000 after acquiring an additional 126,488 shares during the period. Bayesian Capital Management LP raised its holdings in TELUS by 90.2% in the 1st quarter. Bayesian Capital Management LP now owns 75,300 shares of the Wireless communications provider’s stock valued at $1,206,000 after acquiring an additional 35,700 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of TELUS by 85.8% during the 1st quarter. Tidal Investments LLC now owns 19,540 shares of the Wireless communications provider’s stock worth $313,000 after purchasing an additional 9,024 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Price Performance

Shares of TU stock opened at $15.43 on Monday. The stock’s fifty day simple moving average is $16.08 and its 200 day simple moving average is $16.06. TELUS Co. has a one year low of $14.63 and a one year high of $19.14. The firm has a market cap of $23.15 billion, a price-to-earnings ratio of 32.34, a P/E/G ratio of 2.19 and a beta of 0.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.17 by $0.11. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. On average, analysts expect that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.297 per share. This represents a $1.19 annualized dividend and a yield of 7.70%. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. TELUS’s dividend payout ratio is currently 244.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TU shares. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. StockNews.com cut shares of TELUS from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.00.

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.