EverSource Wealth Advisors LLC Decreases Holdings in TELUS Co. (NYSE:TU)

EverSource Wealth Advisors LLC trimmed its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 25.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,740 shares of the Wireless communications provider’s stock after selling 1,647 shares during the period. EverSource Wealth Advisors LLC’s holdings in TELUS were worth $64,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Amundi lifted its holdings in TELUS by 13.3% during the 4th quarter. Amundi now owns 1,396,362 shares of the Wireless communications provider’s stock worth $19,409,000 after buying an additional 163,984 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in TELUS by 5.2% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,403,521 shares of the Wireless communications provider’s stock worth $46,088,000 after buying an additional 169,577 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in TELUS during the 4th quarter worth about $2,085,000. Nicola Wealth Management LTD. lifted its holdings in TELUS by 3.0% during the 4th quarter. Nicola Wealth Management LTD. now owns 1,093,119 shares of the Wireless communications provider’s stock worth $14,823,000 after buying an additional 32,300 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in TELUS by 10.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,551 shares of the Wireless communications provider’s stock worth $22,585,000 after buying an additional 151,309 shares during the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Stock Down 0.6 %

TU opened at $14.92 on Thursday. The business has a 50 day moving average price of $14.82 and a two-hundred day moving average price of $15.32. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The company has a market cap of $22.58 billion, a PE ratio of 30.44, a P/E/G ratio of 5.18 and a beta of 0.72. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data 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. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same period in the prior year, the business earned $0.10 EPS. As a group, research analysts anticipate that TELUS Co. will post 0.71 EPS for the current year.

TELUS Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.2829 per share. This represents a $1.13 annualized dividend and a yield of 7.59%. The ex-dividend date of this dividend is Tuesday, March 11th. TELUS’s dividend payout ratio is presently 226.53%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TU shares. Morgan Stanley started coverage on TELUS in a report on Monday, December 16th. They issued an “equal weight” rating for the company. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Cormark downgraded TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, December 13th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.00.

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.