Hillsdale Investment Management Inc. Purchases 1,500 Shares of TELUS Co. (NYSE:TU)

Hillsdale Investment Management Inc. lifted its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,733 shares of the Wireless communications provider’s stock after purchasing an additional 1,500 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in TELUS were worth $294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TU. Versant Capital Management Inc lifted its holdings in TELUS by 195,100.0% during the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock worth $26,000 after acquiring an additional 1,951 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of TELUS by 1,756.0% in the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock valued at $65,000 after purchasing an additional 4,548 shares during the period. Blueshift Asset Management LLC bought a new stake in TELUS during the 4th quarter worth approximately $142,000. Triasima Portfolio Management inc. acquired a new stake in TELUS during the 4th quarter worth approximately $146,000. Finally, Orion Portfolio Solutions LLC raised its holdings in TELUS by 25.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,270 shares of the Wireless communications provider’s stock worth $256,000 after buying an additional 3,110 shares during the period. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analysts Set New Price Targets

TU has been the subject of several research reports. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Bank of America downgraded TELUS from a “buy” rating to a “neutral” rating in a research note on Friday. Morgan Stanley assumed coverage on TELUS in a research report on Monday, December 16th. They set an “equal weight” rating for the company. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.00.

TELUS Trading Down 1.0 %

TELUS stock opened at $13.80 on Tuesday. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 5.18 and a beta of 0.72. The firm has a 50-day moving average of $14.84 and a 200-day moving average of $15.26. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. TELUS Co. has a one year low of $13.24 and a one year high of $17.27.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, beating 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 prior year, the firm posted $0.10 earnings per share. On average, equities analysts expect that TELUS Co. will post 0.71 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.2829 per share. This represents a $1.13 annualized dividend and a yield of 8.20%. The ex-dividend date of this dividend is Tuesday, March 11th. TELUS’s dividend payout ratio (DPR) is currently 226.53%.

About TELUS

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.