Guardian Partners Inc. Lowers Position in TELUS Corporation $TU

Guardian Partners Inc. trimmed its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 791,188 shares of the Wireless communications provider’s stock after selling 41,274 shares during the quarter. Guardian Partners Inc. owned 0.05% of TELUS worth $12,544,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TU. Parvin Asset Management LLC purchased a new position in TELUS during the second quarter worth about $27,000. Farther Finance Advisors LLC raised its stake in shares of TELUS by 35.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 759 shares during the period. State of Wyoming acquired a new position in shares of TELUS in the 2nd quarter worth approximately $61,000. Blue Trust Inc. boosted its position in shares of TELUS by 23.8% during the 3rd quarter. Blue Trust Inc. now owns 3,994 shares of the Wireless communications provider’s stock worth $63,000 after purchasing an additional 767 shares during the period. Finally, Sagard Holdings Management Inc. purchased a new position in shares of TELUS during the 2nd quarter worth approximately $97,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

TU has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $19.00 target price (down from $22.00) on shares of TELUS in a research report on Tuesday, November 18th. Citigroup upgraded TELUS to a “buy” rating in a research report on Thursday, December 4th. Barclays dropped their price objective on TELUS from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. TD Securities reiterated a “buy” rating on shares of TELUS in a report on Friday, February 13th. Finally, Canaccord Genuity Group raised TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, TELUS has a consensus rating of “Hold” and a consensus target price of $18.17.

TELUS Trading Down 0.4%

Shares of TU stock opened at $13.73 on Friday. TELUS Corporation has a fifty-two week low of $12.54 and a fifty-two week high of $16.74. The company has a 50 day moving average price of $13.63 and a 200 day moving average price of $14.36. The stock has a market capitalization of $21.26 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.68. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.81 and a current ratio of 0.86.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the company earned $0.25 earnings per share. Equities research analysts predict that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a $0.4184 dividend. This represents a $1.67 annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Wednesday, March 11th. TELUS’s dividend payout ratio (DPR) is presently 230.77%.

TELUS Profile

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.