Polar Asset Management Partners Inc. Has $1.37 Million Position in TELUS Co. (NYSE:TU)

Polar Asset Management Partners Inc. increased its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 34.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 81,665 shares of the Wireless communications provider’s stock after acquiring an additional 20,728 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in TELUS were worth $1,370,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TU. Fairscale Capital LLC bought a new position in shares of TELUS during the second quarter valued at $27,000. Blue Trust Inc. increased its holdings in TELUS by 60.4% in the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock valued at $41,000 after purchasing an additional 954 shares during the period. Acadian Asset Management LLC bought a new position in TELUS during the 2nd quarter worth $123,000. Trust Co. of Vermont lifted its holdings in TELUS by 19.0% during the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock worth $128,000 after buying an additional 1,218 shares during the period. Finally, Unique Wealth Strategies LLC bought a new stake in shares of TELUS in the 2nd quarter valued at about $141,000. 49.40% of the stock is owned by institutional investors.

TELUS Stock Performance

Shares of TELUS stock opened at $15.76 on Friday. The company has a market cap of $23.64 billion, a P/E ratio of 33.53, a PEG ratio of 2.26 and a beta of 0.73. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $15.86 and a two-hundred day moving average price of $16.01. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $19.14.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the firm posted $0.19 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, analysts anticipate that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is presently 253.19%.

Analyst Upgrades and Downgrades

TU has been the subject of a number of analyst reports. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Scotiabank upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.00.

TELUS 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.