Shell Asset Management Co. Lowers Position in TELUS Corporation $TU

Shell Asset Management Co. trimmed its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 65.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,522 shares of the Wireless communications provider’s stock after selling 77,578 shares during the quarter. Shell Asset Management Co.’s holdings in TELUS were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Parvin Asset Management LLC bought a new position in shares of TELUS during the second quarter valued at about $27,000. Farther Finance Advisors LLC boosted its position in TELUS by 35.0% during the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 759 shares during the period. CWM LLC grew its stake in TELUS by 169.6% in the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after buying an additional 2,301 shares in the last quarter. State of Wyoming purchased a new position in shares of TELUS in the second quarter valued at $61,000. Finally, Blue Trust Inc. increased its position in shares of TELUS by 23.8% during the third quarter. Blue Trust Inc. now owns 3,994 shares of the Wireless communications provider’s stock valued at $63,000 after buying an additional 767 shares during the period. Institutional investors own 49.40% of the company’s stock.

Analysts Set New Price Targets

TU has been the subject of several recent analyst reports. TD Securities restated a “buy” rating on shares of TELUS in a research report on Friday. Barclays lowered their target price on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Natl Bk Canada raised shares of TELUS from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. Canaccord Genuity Group raised shares of TELUS from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $19.00 price target (down previously from $22.00) on shares of TELUS in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.17.

TELUS Price Performance

Shares of TU opened at $13.48 on Tuesday. The firm’s 50-day simple moving average is $13.40 and its two-hundred day simple moving average is $14.59. TELUS Corporation has a fifty-two week low of $12.54 and a fifty-two week high of $16.74. The stock has a market cap of $20.86 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.81 and a current ratio of 0.86.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. Analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.4184 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.67 annualized dividend and a yield of 12.4%. TELUS’s payout ratio is currently 230.77%.

About TELUS

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.