Guardian Capital LP Sells 138,107 Shares of TELUS Corporation $TU

Guardian Capital LP cut its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 3.6% during the 3rd quarter, Holdings Channel reports. The firm owned 3,646,770 shares of the Wireless communications provider’s stock after selling 138,107 shares during the quarter. TELUS makes up approximately 1.9% of Guardian Capital LP’s holdings, making the stock its 15th largest holding. Guardian Capital LP’s holdings in TELUS were worth $57,451,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TU. Walter Public Investments Inc. lifted its position in shares of TELUS by 1.9% during the 3rd quarter. Walter Public Investments Inc. now owns 39,334 shares of the Wireless communications provider’s stock worth $619,000 after buying an additional 750 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of TELUS by 7.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 11,483 shares of the Wireless communications provider’s stock valued at $181,000 after acquiring an additional 755 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of TELUS by 35.0% in the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 759 shares in the last quarter. 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 acquiring an additional 767 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of TELUS by 1.9% during the second quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after acquiring an additional 841 shares during the last quarter. 49.40% of the stock is owned by institutional investors.

TELUS Price Performance

Shares of NYSE TU opened at $13.73 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The stock has a fifty day simple moving average of $13.63 and a two-hundred day simple moving average of $14.38. TELUS Corporation has a 1-year low of $12.54 and a 1-year high of $16.74. The firm has a market cap of $21.26 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.63 and a beta of 0.68.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate 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 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 earnings per share. Analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Dividend Announcement

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 paid a $0.4184 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 12.2%. The ex-dividend date is Wednesday, March 11th. TELUS’s payout ratio is currently 230.77%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays cut their price objective on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. TD Securities reaffirmed a “buy” rating on shares of TELUS in a research report on Friday, February 13th. Wall Street Zen cut TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Scotiabank restated an “outperform” rating on shares of TELUS in a research report on Tuesday, February 17th. Finally, BMO Capital Markets downgraded shares of TELUS from an “outperform” rating to a “market perform” rating in a report on Thursday, December 11th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.17.

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.