Morningstar Investment Management LLC Trims Position in TELUS Corporation $TU

Morningstar Investment Management LLC trimmed its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 29.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 224,443 shares of the Wireless communications provider’s stock after selling 94,508 shares during the period. Morningstar Investment Management LLC’s holdings in TELUS were worth $2,956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of TELUS in the fourth quarter valued at about $33,000. State of Wyoming acquired a new stake in TELUS in the second quarter valued at about $61,000. Employees Retirement System of Texas acquired a new stake in TELUS in the third quarter valued at about $64,000. Northwestern Mutual Wealth Management Co. lifted its position in TELUS by 37.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 4,585 shares of the Wireless communications provider’s stock valued at $72,000 after purchasing an additional 1,241 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in TELUS by 67.7% in the second quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock valued at $140,000 after purchasing an additional 3,510 shares during the period. 49.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TU. Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Canaccord Genuity Group downgraded shares of TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. TD Cowen upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.50 to $16.00 in a research report on Tuesday, March 10th. Finally, Scotiabank downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, April 10th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.33.

TELUS Trading Up 0.0%

Shares of TELUS stock opened at $12.50 on Monday. TELUS Corporation has a 12-month low of $11.69 and a 12-month high of $16.74. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. The stock has a market cap of $19.67 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 12.27 and a beta of 0.61. The company has a 50-day moving average of $12.62 and a two-hundred day moving average of $13.22.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period last year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be given a $0.4184 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 13.4%. TELUS’s dividend payout ratio is currently 279.55%.

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.