EverSource Wealth Advisors LLC Trims Holdings in TELUS Co. (NYSE:TU)

EverSource Wealth Advisors LLC decreased its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 25.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,740 shares of the Wireless communications provider’s stock after selling 1,647 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in TELUS were worth $64,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. National Bank of Canada FI raised its position in TELUS by 24.2% in the third quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock valued at $438,922,000 after purchasing an additional 5,094,269 shares during the period. Janus Henderson Group PLC raised its position in TELUS by 0.7% in the third quarter. Janus Henderson Group PLC now owns 6,701,819 shares of the Wireless communications provider’s stock valued at $112,610,000 after purchasing an additional 49,088 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its position in TELUS by 5.2% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,403,521 shares of the Wireless communications provider’s stock valued at $46,088,000 after purchasing an additional 169,577 shares during the period. Duff & Phelps Investment Management Co. raised its position in TELUS by 13.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock valued at $44,785,000 after purchasing an additional 317,000 shares during the period. Finally, Geode Capital Management LLC raised its position in TELUS by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,335,660 shares of the Wireless communications provider’s stock valued at $40,238,000 after purchasing an additional 177,953 shares during the period. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TU. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Morgan Stanley initiated coverage on TELUS in a research note on Monday, December 16th. They issued an “equal weight” rating for the company. National Bank Financial cut TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. Finally, Cormark cut TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.00.

TELUS Trading Down 0.6 %

Shares of NYSE TU opened at $14.92 on Thursday. TELUS Co. has a twelve month low of $13.24 and a twelve month high of $17.27. The stock has a market capitalization of $22.58 billion, a PE ratio of 30.44, a PEG ratio of 5.18 and a beta of 0.72. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The stock has a fifty day simple moving average of $14.82 and a 200-day simple moving average of $15.32.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the firm posted $0.10 EPS. On average, equities analysts forecast that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be paid a dividend of $0.2829 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.13 annualized dividend and a yield of 7.59%. TELUS’s payout ratio is 226.53%.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.