Franklin Resources Inc. Boosts Holdings in TELUS Corporation (TU)
Franklin Resources Inc. raised its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 73.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,976,282 shares of the Wireless communications provider’s stock after acquiring an additional 2,963,432 shares during the quarter. Franklin Resources Inc. owned about 1.18% of TELUS Corporation worth $240,943,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AGF Investments Inc. increased its position in TELUS Corporation by 3.1% in the 2nd quarter. AGF Investments Inc. now owns 1,316,643 shares of the Wireless communications provider’s stock valued at $45,480,000 after acquiring an additional 39,337 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of TELUS Corporation by 162.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 499,381 shares of the Wireless communications provider’s stock worth $17,239,000 after buying an additional 309,027 shares during the period. Delta Lloyd Asset Management N.V. acquired a new stake in shares of TELUS Corporation during the 2nd quarter worth approximately $5,054,000. Swiss National Bank grew its position in shares of TELUS Corporation by 1,203.4% during the 2nd quarter. Swiss National Bank now owns 762,500 shares of the Wireless communications provider’s stock worth $26,305,000 after buying an additional 704,000 shares during the period. Finally, Sentry Investments Corp. grew its position in shares of TELUS Corporation by 101.7% during the 2nd quarter. Sentry Investments Corp. now owns 341,800 shares of the Wireless communications provider’s stock worth $15,302,000 after buying an additional 172,325 shares during the period. Hedge funds and other institutional investors own 51.05% of the company’s stock.
Shares of TELUS Corporation (TU) opened at 35.85 on Friday. The stock’s 50 day moving average is $35.95 and its 200 day moving average is $34.03. TELUS Corporation has a 12 month low of $30.31 and a 12 month high of $36.94. The firm has a market cap of $21.29 billion, a PE ratio of 21.77 and a beta of 0.89.
TELUS Corporation (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.05. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company earned $0.70 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts forecast that TELUS Corporation will post $2.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a $0.3884 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Thursday, September 7th. TELUS Corporation’s dividend payout ratio is currently 100.00%.
TU has been the subject of several analyst reports. BidaskClub upgraded shares of TELUS Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded shares of TELUS Corporation from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Friday, July 14th. BMO Capital Markets lifted their price target on shares of TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 14th. Finally, Barclays PLC lifted their price target on shares of TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.50.
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TELUS Corporation Company Profile
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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