Tidal Investments LLC Makes New Investment in TELUS Co. (NYSE:TU)

Tidal Investments LLC acquired a new stake in shares of TELUS Co. (NYSE:TU) (TSE:T) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 19,095 shares of the Wireless communications provider’s stock, valued at approximately $320,000.

Other hedge funds also recently made changes to their positions in the company. Walter Public Investments Inc. raised its stake in TELUS by 1.8% during the 2nd quarter. Walter Public Investments Inc. now owns 37,453 shares of the Wireless communications provider’s stock valued at $567,000 after purchasing an additional 653 shares during the period. Trust Co. of Vermont raised its position in shares of TELUS by 19.0% during the third quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 1,218 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of TELUS by 58.0% in the third quarter. Blue Trust Inc. now owns 4,001 shares of the Wireless communications provider’s stock worth $67,000 after buying an additional 1,468 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of TELUS by 2.0% during the third quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider’s stock worth $1,297,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new position in TELUS during the second quarter valued at $27,000. 49.40% of the stock is currently owned by institutional investors.

TELUS Stock Down 1.3 %

Shares of NYSE TU opened at $13.57 on Wednesday. The company has a market cap of $20.36 billion, a P/E ratio of 28.87, a PEG ratio of 2.10 and a beta of 0.73. The firm has a 50-day simple moving average of $15.44 and a two-hundred day simple moving average of $15.86. TELUS Co. has a 1 year low of $13.54 and a 1 year high of $18.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the business earned $0.19 EPS. TELUS’s revenue was up 1.8% compared to the same quarter last year. Research analysts anticipate that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.297 dividend. This represents a $1.19 annualized dividend and a yield of 8.75%. 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 currently 253.19%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. Finally, Morgan Stanley began coverage on shares of TELUS in a research report on Monday, December 16th. They issued an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.00.

TELUS Company 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.