North Point Portfolio Managers Corp OH Has $224,000 Position in TELUS Corporation (TU)

North Point Portfolio Managers Corp OH continued to hold its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,500 shares of the Wireless communications provider’s stock at the end of the second quarter. North Point Portfolio Managers Corp OH’s holdings in TELUS Corporation were worth $224,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Korea Investment CORP acquired a new stake in TELUS Corporation during the first quarter worth $156,000. Perkins Coie Trust Co bought a new position in TELUS Corporation during the second quarter valued at about $173,000. Mckinley Capital Management LLC Delaware bought a new position in TELUS Corporation during the first quarter valued at about $193,000. ING Groep NV bought a new position in TELUS Corporation during the first quarter valued at about $212,000. Finally, Financial Counselors Inc. increased its position in TELUS Corporation by 1.8% in the first quarter. Financial Counselors Inc. now owns 6,600 shares of the Wireless communications provider’s stock valued at $214,000 after buying an additional 118 shares during the period. 52.66% of the stock is owned by hedge funds and other institutional investors.

TELUS Corporation (TU) opened at 35.38 on Friday. The stock has a market cap of $21.02 billion, a price-to-earnings ratio of 21.25 and a beta of 0.89. TELUS Corporation has a one year low of $30.31 and a one year high of $36.77. The firm has a 50-day moving average price of $35.57 and a 200-day moving average price of $33.76.

TELUS Corporation (NYSE:TU) (TSE:T) last posted its earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.05. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.26 billion. TELUS Corporation had a return on equity of 18.75% and a net margin of 9.55%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, equities analysts predict that TELUS Corporation will post $2.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.3884 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.55 dividend on an annualized basis and a yield of 4.39%. TELUS Corporation’s payout ratio is 92.41%.

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Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of TELUS Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Barclays PLC increased their price target on shares of TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. BMO Capital Markets upped their price objective on TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 14th. Zacks Investment Research upgraded TELUS Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Friday, July 14th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $47.00 target price on shares of TELUS Corporation in a research report on Monday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $43.50.

TELUS Corporation Company Profile

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

Institutional Ownership by Quarter for TELUS Corporation (NYSE:TU)

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