Shell Asset Management Co. Decreases Stake in TELUS Corporation $TU

Shell Asset Management Co. cut its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 65.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 41,522 shares of the Wireless communications provider’s stock after selling 77,578 shares during the period. Shell Asset Management Co.’s holdings in TELUS were worth $654,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TU. Parvin Asset Management LLC bought a new position in shares of TELUS during the 2nd quarter valued at approximately $27,000. Farther Finance Advisors LLC increased its holdings in shares of TELUS by 35.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 759 shares during the last quarter. CWM LLC raised its position in shares of TELUS by 169.6% during the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after buying an additional 2,301 shares in the last quarter. State of Wyoming bought a new position in shares of TELUS in the 2nd quarter valued at about $61,000. Finally, Blue Trust Inc. grew its position in TELUS by 23.8% in the third quarter. Blue Trust Inc. now owns 3,994 shares of the Wireless communications provider’s stock worth $63,000 after acquiring an additional 767 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Stock Performance

TU opened at $13.48 on Tuesday. The company has a market cap of $20.86 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.96 and a beta of 0.67. The firm’s fifty day simple moving average is $13.40 and its two-hundred day simple moving average is $14.59. TELUS Corporation has a 52-week low of $12.54 and a 52-week high of $16.74. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Equities analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a dividend yield of 12.4%. The ex-dividend date is Wednesday, March 11th. TELUS’s payout ratio is currently 230.77%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group raised shares of TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Citigroup raised shares of TELUS to a “buy” rating in a report on Thursday, December 4th. Weiss Ratings restated a “hold (c-)” rating on shares of TELUS in a report on Monday, December 29th. Natl Bk Canada upgraded TELUS from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. Finally, National Bank Financial reiterated an “outperform” rating on shares of TELUS in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.17.

TELUS Company 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.