TELUS Co. (NYSE:TU) Position Boosted by Ingalls & Snyder LLC

Ingalls & Snyder LLC boosted its position in TELUS Co. (NYSE:TU) (TSE:T) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,180 shares of the Wireless communications provider’s stock after purchasing an additional 1,000 shares during the period. Ingalls & Snyder LLC’s holdings in TELUS were worth $323,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC lifted its position in TELUS by 80.8% in the third quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock worth $27,000 after purchasing an additional 739 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of TELUS during the 4th quarter valued at $33,000. CVA Family Office LLC acquired a new stake in shares of TELUS during the 4th quarter valued at $49,000. Captrust Financial Advisors lifted its position in shares of TELUS by 18.1% during the 2nd quarter. Captrust Financial Advisors now owns 4,669 shares of the Wireless communications provider’s stock valued at $104,000 after acquiring an additional 717 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of TELUS by 125,940.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,302 shares of the Wireless communications provider’s stock valued at $123,000 after acquiring an additional 6,297 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Price Performance

Shares of NYSE:TU opened at $15.85 on Friday. The company’s fifty day moving average is $16.91 and its two-hundred day moving average is $17.28. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. TELUS Co. has a 12-month low of $15.47 and a 12-month high of $21.34. The company has a market cap of $23.39 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results 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 net margin of 4.18% and a return on equity of 7.81%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the prior year, the business posted $0.17 earnings per share. TELUS’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts expect that TELUS Co. will post 0.77 earnings per share for the current fiscal year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $0.2793 dividend. The ex-dividend date was Friday, March 8th. This is an increase from TELUS’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.05%. TELUS’s dividend payout ratio is 258.14%.

Analyst Upgrades and Downgrades

TU has been the subject of a number of recent research reports. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. BMO Capital Markets cut their price objective on TELUS from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. JPMorgan Chase & Co. downgraded TELUS from an “overweight” rating to a “neutral” rating in a research report on Thursday, January 4th. Finally, Scotiabank reissued a “sector perform” rating and set a $26.00 target price (down from $28.00) on shares of TELUS in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.72.

About TELUS

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.