Capstone Investment Advisors LLC Buys Shares of 86,759 TELUS Corporation $TU

Capstone Investment Advisors LLC purchased a new position in TELUS Corporation (NYSE:TU) (TSE:T) during the 2nd quarter, Holdings Channel reports. The fund purchased 86,759 shares of the Wireless communications provider’s stock, valued at approximately $917,000.

Several other institutional investors and hedge funds have also modified their holdings of TU. Parvin Asset Management LLC bought a new stake in shares of TELUS during the 2nd quarter valued at $167,000. Corient Private Wealth LP bought a new position in TELUS in the 2nd quarter worth $238,000. Bank of America Corp DE bought a new position in TELUS in the 2nd quarter worth $75,058,000. Man Group plc purchased a new position in TELUS during the second quarter valued at $13,732,000. Finally, Jupiter Topco LLC purchased a new position in TELUS during the second quarter valued at $68,500,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Stock Down 0.9%

TU opened at $9.67 on Friday. The stock has a market cap of $15.22 billion, a price-to-earnings ratio of -23.58, a price-to-earnings-growth ratio of 9.59 and a beta of 0.64. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.62 and a current ratio of 0.67. The firm’s fifty day moving average is $10.22 and its 200 day moving average is $11.89. TELUS Corporation has a fifty-two week low of $9.20 and a fifty-two week high of $16.65.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. On average, sell-side analysts forecast that TELUS Corporation will post 0.57 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 7.8%. TELUS’s dividend payout ratio is -295.12%.

Analysts Set New Price Targets

Several analysts have issued reports on TU shares. TD Securities reissued a “buy” rating on shares of TELUS in a report on Monday, August 3rd. Morgan Stanley downgraded TELUS to an “underweight” rating in a research note on Tuesday, July 21st. Bank of America reaffirmed an “underperform” rating on shares of TELUS in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Raymond James Financial assumed coverage on shares of TELUS in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, TELUS currently has an average rating of “Reduce” and a consensus price target of $15.33.

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.