EverSource Wealth Advisors LLC Lowers Stock Holdings in TELUS Co. (NYSE:TU)

EverSource Wealth Advisors LLC lowered its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 29.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,142 shares of the Wireless communications provider’s stock after selling 5,789 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in TELUS were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TU. Wrapmanager Inc. grew its holdings in shares of TELUS by 8.2% during the third quarter. Wrapmanager Inc. now owns 14,438 shares of the Wireless communications provider’s stock worth $236,000 after buying an additional 1,093 shares during the last quarter. PARK CIRCLE Co lifted its position in TELUS by 56.3% in the third quarter. PARK CIRCLE Co now owns 82,598 shares of the Wireless communications provider’s stock valued at $1,350,000 after purchasing an additional 29,750 shares during the period. Kestra Private Wealth Services LLC lifted its position in TELUS by 4.4% in the third quarter. Kestra Private Wealth Services LLC now owns 90,050 shares of the Wireless communications provider’s stock valued at $1,471,000 after purchasing an additional 3,806 shares during the period. Oppenheimer & Co. Inc. lifted its position in TELUS by 9.4% in the third quarter. Oppenheimer & Co. Inc. now owns 13,541 shares of the Wireless communications provider’s stock valued at $221,000 after purchasing an additional 1,162 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in TELUS by 25.1% in the third quarter. Avantax Advisory Services Inc. now owns 40,664 shares of the Wireless communications provider’s stock valued at $664,000 after purchasing an additional 8,149 shares during the period. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Price Performance

Shares of TU stock traded down $0.03 during midday trading on Friday, reaching $16.34. 255,056 shares of the company traded hands, compared to its average volume of 2,382,401. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.75 and a quick ratio of 0.70. The firm’s 50 day simple moving average is $16.19 and its two-hundred day simple moving average is $17.24. TELUS Co. has a 1-year low of $15.35 and a 1-year high of $19.66. The firm has a market cap of $24.12 billion, a PE ratio of 41.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.71.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be paid a dividend of $0.282 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 6.90%. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, June 10th. TELUS’s dividend payout ratio (DPR) is 284.62%.

Wall Street Analyst Weigh In

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

TELUS Company Profile

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.