Capstone Investment Advisors LLC Purchases New Position in TELUS Corporation $TU

Capstone Investment Advisors LLC acquired a new position in TELUS Corporation (NYSE:TU) (TSE:T) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 86,759 shares of the Wireless communications provider’s stock, valued at approximately $917,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TU. Manchester Capital Management LLC boosted its stake in TELUS by 320.0% during the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 1,712 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of TELUS by 129.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock worth $33,000 after purchasing an additional 1,393 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of TELUS during the second quarter valued at $55,000. Kestra Advisory Services LLC bought a new position in shares of TELUS during the fourth quarter valued at $55,000. Finally, State of Wyoming purchased a new stake in shares of TELUS during the second quarter valued at $61,000. 49.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. TD Securities reiterated a “buy” rating on shares of TELUS in a report on Monday, August 3rd. Wall Street Zen cut shares of TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Raymond James Financial initiated coverage on shares of TELUS in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Scotiabank reiterated a “sector perform” rating on shares of TELUS in a research note on Monday, August 3rd. Finally, National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $15.33.

TELUS Price Performance

NYSE TU opened at $9.67 on Friday. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of -23.58, a PEG ratio of 9.59 and a beta of 0.64. TELUS Corporation has a 1-year low of $9.20 and a 1-year high of $16.65. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.67 and a quick ratio of 0.62. The business’s fifty day moving average price is $10.22 and its 200-day moving average price is $11.89.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. On average, equities analysts predict that TELUS Corporation will post 0.57 earnings per share for the current year.

TELUS Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, September 10th. TELUS’s dividend payout ratio (DPR) is presently -295.12%.

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.