Mackenzie Financial Corp Sells 127,141 Shares of TELUS Corporation $TU

Mackenzie Financial Corp lowered its position in TELUS Corporation (NYSE:TU) (TSE:T) by 0.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,362,619 shares of the Wireless communications provider’s stock after selling 127,141 shares during the quarter. Mackenzie Financial Corp’s holdings in TELUS were worth $509,618,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TU. Parvin Asset Management LLC purchased a new stake in shares of TELUS during the second quarter worth about $27,000. Farther Finance Advisors LLC grew its holdings in TELUS by 35.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 759 shares in the last quarter. State of Wyoming purchased a new position in shares of TELUS in the second quarter worth $61,000. Blue Trust Inc. boosted 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 worth $63,000 after acquiring an additional 767 shares during the last quarter. Finally, Sagard Holdings Management Inc. purchased a new stake in TELUS in the 2nd quarter worth $97,000. Institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

TU has been the subject of a number of research analyst reports. TD Securities restated a “buy” rating on shares of TELUS in a research report on Friday, February 13th. Weiss Ratings restated a “hold (c-)” rating on shares of TELUS in a report on Monday, December 29th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $19.00 price objective (down from $22.00) on shares of TELUS in a report on Tuesday, November 18th. Wall Street Zen lowered shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a research note on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.63.

TELUS Stock Performance

NYSE:TU opened at $13.72 on Wednesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.81 and a current ratio of 0.86. The stock’s fifty day moving average is $13.66 and its 200 day moving average is $14.31. The firm has a market capitalization of $21.24 billion, a PE ratio of 26.38, a PEG ratio of 1.61 and a beta of 0.68. TELUS Corporation has a fifty-two week low of $12.54 and a fifty-two week high of $16.74.

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

TELUS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be given a $0.4184 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend is Wednesday, March 11th. TELUS’s dividend payout ratio is 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.