Triasima Portfolio Management inc. Purchases New Holdings in TELUS Corporation $TU

Triasima Portfolio Management inc. acquired a new position in TELUS Corporation (NYSE:TU) (TSE:T) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 100,035 shares of the Wireless communications provider’s stock, valued at approximately $1,576,000.

Several other large investors also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new stake in shares of TELUS in the second quarter worth $27,000. Farther Finance Advisors LLC grew its stake in TELUS by 35.0% during 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 in the last quarter. Blue Trust Inc. grew its stake in TELUS by 26.1% during the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after acquiring an additional 667 shares in the last quarter. CWM LLC increased its holdings in shares of TELUS by 169.6% in the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 2,301 shares during the period. Finally, State of Wyoming purchased a new stake in shares of TELUS in the second quarter worth approximately $61,000. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Stock Down 0.4%

Shares of NYSE:TU opened at $13.50 on Tuesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.76. TELUS Corporation has a 52 week low of $12.54 and a 52 week high of $16.74. The company has a market capitalization of $20.89 billion, a PE ratio of 24.54, a P/E/G ratio of 2.04 and a beta of 0.66. The company’s fifty day moving average is $13.27 and its 200-day moving average is $14.95.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). TELUS had a return on equity of 8.76% and a net margin of 5.71%.The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the business earned $0.28 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts predict that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th were issued a $0.4184 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 12.4%. This is a boost from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, December 11th. TELUS’s dividend payout ratio is 218.18%.

Analysts Set New Price Targets

TU has been the topic of a number of research analyst reports. Natl Bk Canada raised shares of TELUS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Barclays lowered their price target on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $19.00 price objective (down from $22.00) on shares of TELUS in a report on Tuesday, November 18th. National Bankshares restated an “outperform” rating on shares of TELUS in a research note on Thursday, December 4th. Finally, BMO Capital Markets downgraded TELUS from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.17.

About TELUS

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.