Entropy Technologies LP Buys Shares of 56,296 TELUS Co. (NYSE:TU)

Entropy Technologies LP purchased a new position in TELUS Co. (NYSE:TU) (TSE:T) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 56,296 shares of the Wireless communications provider’s stock, valued at approximately $945,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. grew its stake in shares of TELUS by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock valued at $578,253,000 after buying an additional 2,365,753 shares during the last quarter. Fiera Capital Corp grew its position in TELUS by 9.9% during the 2nd quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider’s stock worth $252,468,000 after acquiring an additional 1,501,742 shares during the last quarter. National Bank of Canada FI increased its stake in TELUS by 7.2% in the 1st quarter. National Bank of Canada FI now owns 21,461,769 shares of the Wireless communications provider’s stock worth $345,330,000 after purchasing an additional 1,438,904 shares during the period. TD Asset Management Inc lifted its position in TELUS by 3.0% in the second quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider’s stock valued at $631,310,000 after purchasing an additional 1,208,720 shares during the last quarter. Finally, Guardian Capital LP boosted its stake in shares of TELUS by 27.8% during the first quarter. Guardian Capital LP now owns 5,486,529 shares of the Wireless communications provider’s stock valued at $87,857,000 after purchasing an additional 1,195,035 shares during the period. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Finally, Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, TELUS presently has a consensus rating of “Hold” and an average target price of $26.00.

TELUS Trading Down 0.6 %

NYSE:TU opened at $15.58 on Thursday. The company has a 50-day moving average price of $16.31 and a 200-day moving average price of $16.12. The stock has a market cap of $23.24 billion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 2.12 and a beta of 0.75. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50. TELUS Co. has a 12 month low of $14.63 and a 12 month high of $19.14.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the firm posted $0.19 EPS. The business’s revenue was up 1.8% on a year-over-year basis. Equities analysts predict that TELUS Co. will post 0.78 EPS for the current year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.63%. The ex-dividend date is Wednesday, December 11th. This is a boost from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is 244.69%.

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.