TELUS Co. (NYSE:TU) Given Average Recommendation of “Hold” by Analysts

Shares of TELUS Co. (NYSE:TU) (TSE:T) have been given a consensus recommendation of “Hold” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $21.50.

A number of equities research analysts have recently commented on the stock. Bank of America downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Canaccord Genuity Group lifted their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a report on Monday, May 12th. StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, National Bankshares restated a “sector perform” rating on shares of TELUS in a report on Monday, May 12th.

TELUS Stock Performance

Shares of NYSE TU opened at $15.78 on Monday. The company has a market cap of $23.89 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. TELUS has a 12 month low of $13.24 and a 12 month high of $17.27. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The company has a 50-day simple moving average of $14.81 and a 200-day simple moving average of $14.81.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th will be issued a $0.2989 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date of this dividend is Tuesday, June 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio (DPR) is 234.69%.

Hedge Funds Weigh In On TELUS

Hedge funds have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of TELUS by 38.5% in the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider’s stock valued at $7,839,000 after purchasing an additional 129,934 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of TELUS by 4.6% in the 4th quarter. American Century Companies Inc. now owns 119,665 shares of the Wireless communications provider’s stock valued at $1,623,000 after purchasing an additional 5,286 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in shares of TELUS by 6.9% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,017,200 shares of the Wireless communications provider’s stock valued at $13,785,000 after purchasing an additional 65,940 shares during the last quarter. Nexus Investment Management ULC boosted its holdings in shares of TELUS by 1.8% in the 4th quarter. Nexus Investment Management ULC now owns 2,225,265 shares of the Wireless communications provider’s stock valued at $30,103,000 after purchasing an additional 38,450 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its holdings in shares of TELUS by 27.4% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 1,091,751 shares of the Wireless communications provider’s stock valued at $14,795,000 after purchasing an additional 234,652 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

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.