TELUS (NYSE:TU) Price Target Raised to $21.50

TELUS (NYSE:TU) (TSE:T) had its target price raised by Canaccord Genuity Group from $20.25 to $21.50 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the Wireless communications provider’s stock.

TU has been the subject of a number of other reports. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Bank of America downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.50.

TELUS Price Performance

Shares of TELUS stock opened at $15.56 on Monday. 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 has a fifty-two week low of $13.24 and a fifty-two week high of $17.27. The firm has a fifty day moving average price of $14.81 and a two-hundred day moving average price of $14.83. The company has a market cap of $23.56 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be issued a dividend of $0.2989 per share. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 7.68%. The ex-dividend date is Tuesday, June 10th. TELUS’s dividend payout ratio (DPR) is currently 234.69%.

Hedge Funds Weigh In On TELUS

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of TELUS by 38.5% during the third quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider’s stock worth $7,839,000 after buying an additional 129,934 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of TELUS during the third quarter worth approximately $320,000. Pacifica Partners Inc. raised its stake in shares of TELUS by 15.0% during the fourth quarter. Pacifica Partners Inc. now owns 159,459 shares of the Wireless communications provider’s stock worth $2,170,000 after buying an additional 20,770 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of TELUS during the fourth quarter worth approximately $412,000. Finally, Nexus Investment Management ULC raised its stake in shares of TELUS by 1.8% during the fourth quarter. Nexus Investment Management ULC now owns 2,225,265 shares of the Wireless communications provider’s stock worth $30,103,000 after buying an additional 38,450 shares during the last quarter. 49.40% of the stock is owned by institutional investors.

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.