Summit Financial Wealth Advisors LLC Trims Stock Position in TELUS Co. (NYSE:TU)

Summit Financial Wealth Advisors LLC lowered its stake in shares of TELUS Co. (NYSE:TUFree Report) (TSE:T) by 4.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 272,415 shares of the Wireless communications provider’s stock after selling 11,932 shares during the period. TELUS comprises about 1.1% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 25th largest holding. Summit Financial Wealth Advisors LLC’s holdings in TELUS were worth $4,848,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of TELUS by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 21,789,027 shares of the Wireless communications provider’s stock valued at $356,033,000 after purchasing an additional 387,561 shares in the last quarter. FMR LLC increased its stake in shares of TELUS by 15.4% in the 3rd quarter. FMR LLC now owns 489,969 shares of the Wireless communications provider’s stock valued at $8,001,000 after purchasing an additional 65,287 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in TELUS by 1.5% in the 3rd quarter. Alberta Investment Management Corp now owns 3,166,300 shares of the Wireless communications provider’s stock worth $51,944,000 after buying an additional 46,000 shares during the last quarter. Marshall Wace LLP boosted its holdings in TELUS by 4,575.7% in the 2nd quarter. Marshall Wace LLP now owns 1,150,224 shares of the Wireless communications provider’s stock worth $22,383,000 after buying an additional 1,125,624 shares during the last quarter. Finally, Fiera Capital Corp boosted its holdings in TELUS by 2.7% in the 3rd quarter. Fiera Capital Corp now owns 14,354,382 shares of the Wireless communications provider’s stock worth $235,054,000 after buying an additional 382,845 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Stock Up 0.6 %

Shares of NYSE TU opened at $16.01 on Friday. TELUS Co. has a 52-week low of $15.47 and a 52-week high of $21.34. The business’s 50 day moving average is $17.31 and its two-hundred day moving average is $17.34. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The firm has a market cap of $23.63 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 3.59 and a beta of 0.73.

TELUS (NYSE:TUGet Free Report) (TSE:T) last posted its quarterly earnings data on Friday, February 9th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the company earned $0.17 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Research analysts predict that TELUS Co. will post 0.78 EPS for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be given a dividend of $0.2793 per share. The ex-dividend date is Friday, March 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.98%. This is a positive change from TELUS’s previous quarterly dividend of $0.27. TELUS’s dividend payout ratio is currently 258.14%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TU. Scotiabank restated a “sector perform” rating and set a $26.00 target price (down from $28.00) on shares of TELUS in a report on Monday, March 25th. BMO Capital Markets lowered their target price on TELUS from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. StockNews.com cut TELUS from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. cut TELUS from an “overweight” rating to a “neutral” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.72.

Read Our Latest Report on TELUS

About TELUS

(Free Report)

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.

See Also

Institutional Ownership by Quarter for TELUS (NYSE:TU)

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