TELUS Co. (NYSE:TU) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 8.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,355,620 shares of the Wireless communications provider’s stock after selling 378,986 shares during the period. JPMorgan Chase & Co.’s holdings in TELUS were worth $73,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. 1832 Asset Management L.P. lifted its stake in TELUS by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock worth $578,253,000 after purchasing an additional 2,365,753 shares during the last quarter. National Bank of Canada FI grew its position in shares of 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 valued at $438,922,000 after buying an additional 5,094,269 shares during the last quarter. Fiera Capital Corp lifted its position in TELUS by 1.3% in the third quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider’s stock valued at $283,854,000 after acquiring an additional 211,815 shares during the last quarter. Toronto Dominion Bank boosted its stake in TELUS by 5.4% in the second quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider’s stock valued at $188,835,000 after acquiring an additional 636,845 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in TELUS by 0.7% in the third quarter. Janus Henderson Group PLC now owns 6,701,819 shares of the Wireless communications provider’s stock valued at $112,610,000 after acquiring an additional 49,088 shares in the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

TELUS Trading Up 1.1 %

NYSE TU opened at $13.78 on Friday. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $18.55. The firm has a 50-day moving average price of $15.02 and a 200 day moving average price of $15.72. The stock has a market capitalization of $20.67 billion, a P/E ratio of 29.32, a P/E/G ratio of 2.10 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. TELUS’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. Equities research analysts expect that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were given a dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 8.62%. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. TELUS’s dividend payout ratio (DPR) is presently 253.19%.

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.