K.J. Harrison & Partners Inc Buys 167,714 Shares of TELUS Corporation $TU

K.J. Harrison & Partners Inc lifted its position in TELUS Corporation (NYSE:TU) (TSE:T) by 307.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,192 shares of the Wireless communications provider’s stock after buying an additional 167,714 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in TELUS were worth $2,933,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TU. Lincluden Management Ltd. grew its stake in TELUS by 9.7% during the fourth quarter. Lincluden Management Ltd. now owns 1,821,826 shares of the Wireless communications provider’s stock valued at $23,993,000 after acquiring an additional 161,320 shares in the last quarter. Vest Financial LLC lifted its stake in TELUS by 97.2% in the 4th quarter. Vest Financial LLC now owns 357,705 shares of the Wireless communications provider’s stock worth $4,711,000 after purchasing an additional 176,316 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in TELUS by 7.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 233,924 shares of the Wireless communications provider’s stock worth $3,087,000 after purchasing an additional 16,823 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in TELUS by 2.8% in the 4th quarter. Sanctuary Advisors LLC now owns 31,454 shares of the Wireless communications provider’s stock valued at $415,000 after purchasing an additional 869 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of TELUS by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock valued at $388,415,000 after purchasing an additional 916,459 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TU. TD Cowen raised shares of TELUS from a “hold” rating to a “buy” rating in a report on Tuesday, April 28th. TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings lowered TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Bank of America raised TELUS from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.50 to $16.00 in a report on Tuesday, March 10th. Finally, Wall Street Zen downgraded TELUS from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, TELUS currently has an average rating of “Hold” and a consensus target price of $17.63.

TELUS Stock Performance

NYSE TU opened at $12.86 on Thursday. TELUS Corporation has a 52-week low of $11.69 and a 52-week high of $16.74. The company has a fifty day moving average of $12.90 and a 200-day moving average of $13.43. The company has a market capitalization of $19.91 billion, a P/E ratio of 24.72, a P/E/G ratio of 4.62 and a beta of 0.61. 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 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). TELUS had a net margin of 5.42% and a return on equity of 8.42%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the company earned $0.25 EPS. As a group, equities research analysts predict that TELUS Corporation will post 0.7 EPS for the current fiscal year.

TELUS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th were given a dividend of $0.4184 per share. The ex-dividend date was Wednesday, March 11th. This represents a $1.67 annualized dividend and a dividend yield of 13.0%. TELUS’s dividend payout ratio is 236.54%.

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.