First Trust Advisors LP Has $126.34 Million Stock Holdings in TELUS Corporation $TU

First Trust Advisors LP boosted its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,844,098 shares of the Wireless communications provider’s stock after purchasing an additional 486,043 shares during the quarter. First Trust Advisors LP’s holdings in TELUS were worth $126,343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TU. Manchester Capital Management LLC increased its position in TELUS by 320.0% in the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 1,712 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in TELUS by 129.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock worth $33,000 after acquiring an additional 1,393 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in TELUS in the fourth quarter worth approximately $33,000. State of Wyoming acquired a new stake in TELUS in the second quarter valued at approximately $61,000. Finally, Employees Retirement System of Texas acquired a new stake in TELUS in the third quarter valued at approximately $64,000. 49.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of TELUS in a research report on Friday, July 17th. Scotiabank downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, April 10th. TD Cowen upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.67.

TELUS Price Performance

Shares of NYSE TU opened at $10.11 on Friday. The stock has a market cap of $15.91 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 7.65 and a beta of 0.63. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.63 and a current ratio of 0.67. TELUS Corporation has a fifty-two week low of $9.95 and a fifty-two week high of $16.72. The firm’s 50-day simple moving average is $11.42 and its 200 day simple moving average is $12.57.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. As a group, research analysts anticipate that TELUS Corporation will post 0.74 earnings per share for the current fiscal year.

TELUS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th were given a dividend of $0.4184 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 16.6%. TELUS’s payout ratio is presently 275.00%.

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.