Orion Portfolio Solutions LLC Purchases 3,110 Shares of TELUS Co. (NYSE:TU)

Orion Portfolio Solutions LLC increased its position in TELUS Co. (NYSE:TU) (TSE:T) by 25.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,270 shares of the Wireless communications provider’s stock after acquiring an additional 3,110 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in TELUS were worth $256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Asset Management Inc increased its stake in shares of TELUS by 3.0% in the second quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider’s stock worth $631,310,000 after purchasing an additional 1,208,720 shares during the period. 1832 Asset Management L.P. grew its holdings in TELUS by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock valued at $578,253,000 after buying an additional 2,365,753 shares during the last quarter. National Bank of Canada FI increased its position in TELUS by 24.2% in the 3rd quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock worth $438,922,000 after buying an additional 5,094,269 shares during the period. CIBC Asset Management Inc increased its position in TELUS by 1.8% in the 2nd quarter. CIBC Asset Management Inc now owns 22,404,617 shares of the Wireless communications provider’s stock worth $338,953,000 after buying an additional 387,686 shares during the period. Finally, Fiera Capital Corp lifted its holdings in shares of TELUS by 1.3% during the third quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider’s stock worth $283,854,000 after buying an additional 211,815 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Morgan Stanley assumed coverage on shares of TELUS in a report on Monday. They set an “equal weight” rating on the stock. National Bank Financial lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. Finally, Scotiabank raised TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.00.

TELUS Trading Down 0.9 %

Shares of TU stock opened at $13.75 on Friday. The firm has a fifty day moving average of $15.53 and a 200-day moving average of $15.91. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 2.10 and a beta of 0.73. TELUS Co. has a 52-week low of $13.69 and a 52-week high of $18.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.69.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts forecast that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.297 per share. This represents a $1.19 annualized dividend and a dividend yield of 8.64%. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio (DPR) is 253.19%.

TELUS 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.