Nicola Wealth Management LTD. Has $16.12 Million Stock Position in TELUS Corporation $TU

Nicola Wealth Management LTD. lowered its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 42.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,223,219 shares of the Wireless communications provider’s stock after selling 902,200 shares during the period. TELUS comprises about 1.5% of Nicola Wealth Management LTD.’s portfolio, making the stock its 24th biggest holding. Nicola Wealth Management LTD.’s holdings in TELUS were worth $16,124,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP raised its holdings in shares of TELUS by 11.0% during the 3rd quarter. First Trust Advisors LP now owns 7,478,636 shares of the Wireless communications provider’s stock worth $117,922,000 after buying an additional 743,471 shares in the last quarter. Summit Global Investments acquired a new position in shares of TELUS during the 3rd quarter worth $894,000. Harvest Portfolios Group Inc. raised its holdings in shares of TELUS by 108.8% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 423,285 shares of the Wireless communications provider’s stock worth $6,667,000 after buying an additional 220,552 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of TELUS by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 28,553,587 shares of the Wireless communications provider’s stock worth $449,748,000 after buying an additional 1,255,029 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of TELUS by 10.7% during the 3rd quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider’s stock worth $281,326,000 after buying an additional 1,725,982 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TU shares. Scotiabank cut TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. TD Cowen raised TELUS from a “hold” rating to a “buy” rating in a report on Tuesday, April 28th. Canaccord Genuity Group cut TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Wall Street Zen raised TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Bank of America raised TELUS from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.50 to $16.00 in a report on Tuesday, March 10th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.33.

TELUS Trading Up 0.0%

Shares of TU stock opened at $12.50 on Monday. The stock has a market cap of $19.67 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 12.27 and a beta of 0.61. The stock has a 50-day moving average of $12.62 and a 200-day moving average of $13.22. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. TELUS Corporation has a 1-year low of $11.69 and a 1-year high of $16.74.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, equities research analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be paid a $0.4184 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 13.4%. TELUS’s dividend payout ratio is presently 279.55%.

TELUS Profile

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.