Capital Innovations LLC Purchases Shares of 9,195 TELUS Corporation (TU)

Capital Innovations LLC purchased a new stake in TELUS Corporation (NYSE:TU) (TSE:T) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,195 shares of the Wireless communications provider’s stock, valued at approximately $317,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of TELUS Corporation by 1.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 766,058 shares of the Wireless communications provider’s stock valued at $26,400,000 after buying an additional 14,252 shares in the last quarter. CGOV Asset Management grew its stake in shares of TELUS Corporation by 5.3% in the 1st quarter. CGOV Asset Management now owns 1,737,899 shares of the Wireless communications provider’s stock valued at $75,025,000 after buying an additional 86,700 shares in the last quarter. Federated Investors Inc. PA grew its stake in shares of TELUS Corporation by 8.7% in the 2nd quarter. Federated Investors Inc. PA now owns 229,895 shares of the Wireless communications provider’s stock valued at $7,936,000 after buying an additional 18,473 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of TELUS Corporation by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 4,680,743 shares of the Wireless communications provider’s stock valued at $152,031,000 after buying an additional 182,298 shares in the last quarter. Finally, Sentry Investments Corp. grew its stake in shares of TELUS Corporation by 101.7% in the 2nd quarter. Sentry Investments Corp. now owns 341,800 shares of the Wireless communications provider’s stock valued at $15,302,000 after buying an additional 172,325 shares in the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on TU. BidaskClub cut TELUS Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. BMO Capital Markets boosted their price target on TELUS Corporation from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. Barclays PLC boosted their price target on TELUS Corporation from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. Finally, Zacks Investment Research raised TELUS Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.50.

Shares of TELUS Corporation (TU) traded up 0.181% during midday trading on Tuesday, hitting $35.935. The company had a trading volume of 175,421 shares. The firm has a market capitalization of $21.35 billion, a P/E ratio of 20.905 and a beta of 0.89. TELUS Corporation has a 12-month low of $30.31 and a 12-month high of $36.94. The firm’s 50-day moving average is $35.99 and its 200-day moving average is $34.62.

TELUS Corporation (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.05). The company had revenue of $3.27 billion for the quarter, compared to analyst estimates 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 period last year, the firm earned $0.70 EPS. On average, analysts predict that TELUS Corporation will post $2.13 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.3884 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.55 annualized dividend and a dividend yield of 4.33%. TELUS Corporation’s dividend payout ratio is currently 100.00%.

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About TELUS Corporation

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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