Envestnet Asset Management Inc. Has $7.35 Million Stock Position in TELUS Co. (NYSE:TU)

Envestnet Asset Management Inc. lifted its stake in TELUS Co. (NYSE:TU) (TSE:T) by 14.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 485,397 shares of the Wireless communications provider’s stock after purchasing an additional 61,952 shares during the quarter. Envestnet Asset Management Inc.’s holdings in TELUS were worth $7,349,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in shares of TELUS by 11.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider’s stock valued at $20,050,000 after purchasing an additional 126,488 shares during the period. Vanguard Group Inc. boosted its position in shares of TELUS by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 22,834,015 shares of the Wireless communications provider’s stock valued at $406,217,000 after purchasing an additional 1,044,988 shares during the period. Van ECK Associates Corp acquired a new stake in TELUS during the 1st quarter worth about $1,991,000. Virtu Financial LLC acquired a new stake in TELUS during the 4th quarter worth about $376,000. Finally, Quantbot Technologies LP boosted its position in TELUS by 78.0% during the 1st quarter. Quantbot Technologies LP now owns 163,579 shares of the Wireless communications provider’s stock worth $2,619,000 after acquiring an additional 71,655 shares during the period. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Up 0.7 %

Shares of TELUS stock opened at $16.77 on Friday. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 43.00, a P/E/G ratio of 2.53 and a beta of 0.74. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. TELUS Co. has a 52-week low of $14.63 and a 52-week high of $19.14. The stock has a 50-day simple moving average of $16.34 and a 200-day simple moving average of $16.14.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.09. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.70 billion. TELUS had a return on equity of 8.50% and a net margin of 3.87%. During the same period in the previous year, the company earned $0.14 EPS. On average, equities research analysts expect that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.284 per share. This represents a $1.14 annualized dividend and a dividend yield of 6.77%. This is a positive change from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, September 10th. TELUS’s payout ratio is currently 294.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TU shares. Canaccord Genuity Group lowered TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.33.

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.