Aigen Investment Management LP Takes Position in TELUS Co. (NYSE:TU)

Aigen Investment Management LP purchased a new position in TELUS Co. (NYSE:TU) (TSE:T) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 98,675 shares of the Wireless communications provider’s stock, valued at approximately $1,656,000.

Several other institutional investors and hedge funds also recently bought and sold shares of TU. Entropy Technologies LP bought a new position in shares of TELUS in the third quarter worth about $945,000. Fiera Capital Corp increased its holdings in TELUS by 1.3% during the 3rd quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider’s stock worth $283,854,000 after purchasing an additional 211,815 shares during the period. Summit Global Investments purchased a new stake in shares of TELUS in the 3rd quarter worth $1,146,000. Harvest Portfolios Group Inc. grew its position in shares of TELUS by 6.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 509,052 shares of the Wireless communications provider’s stock worth $8,540,000 after buying an additional 31,041 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of TELUS by 1.4% during the third quarter. Van ECK Associates Corp now owns 288,058 shares of the Wireless communications provider’s stock valued at $4,662,000 after buying an additional 3,839 shares during the period. 49.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

TELUS Stock Performance

TELUS stock traded down $0.10 during mid-day trading on Tuesday, reaching $15.64. 230,708 shares of the company traded hands, compared to its average volume of 2,271,165. TELUS Co. has a fifty-two week low of $14.63 and a fifty-two week high of $19.14. The firm’s fifty day moving average is $16.32 and its two-hundred day moving average is $16.12. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 2.40 and a beta of 0.75.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results 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 8.50% and a net margin of 3.87%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the business earned $0.19 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a $0.297 dividend. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a dividend yield of 7.60%. The ex-dividend date of this dividend is Wednesday, December 11th. TELUS’s dividend payout ratio is 253.19%.

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.