Amundi Has $24.83 Million Position in TELUS Corporation $TU

Amundi raised its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 12.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,529,847 shares of the Wireless communications provider’s stock after buying an additional 167,082 shares during the quarter. Amundi’s holdings in TELUS were worth $24,829,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TU. Blue Trust Inc. raised its stake in TELUS by 26.1% in the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after purchasing an additional 667 shares in the last quarter. Walter Public Investments Inc. increased its holdings in TELUS by 2.0% in the 2nd quarter. Walter Public Investments Inc. now owns 38,584 shares of the Wireless communications provider’s stock valued at $620,000 after buying an additional 765 shares during the period. Cetera Investment Advisers raised its position in shares of TELUS by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after buying an additional 841 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of TELUS by 11.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 11,482 shares of the Wireless communications provider’s stock valued at $184,000 after buying an additional 1,160 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of TELUS by 10.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 12,716 shares of the Wireless communications provider’s stock worth $204,000 after acquiring an additional 1,196 shares during the period. 49.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TU. National Bank Financial raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 19th. Citigroup raised TELUS to a “buy” rating in a report on Thursday, December 4th. Canaccord Genuity Group raised TELUS from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of TELUS in a research report on Monday. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $19.00 price objective (down from $22.00) on shares of TELUS in a research note on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.17.

TELUS Stock Down 0.3%

Shares of NYSE:TU opened at $13.28 on Thursday. TELUS Corporation has a 52-week low of $12.80 and a 52-week high of $16.74. The company has a market capitalization of $20.55 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 2.14 and a beta of 0.66. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.76. The company has a fifty day moving average of $14.38 and a 200-day moving average of $15.56.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). TELUS had a return on equity of 8.76% and a net margin of 5.71%.The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue was up .1% on a year-over-year basis. On average, equities analysts predict that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be issued a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a dividend yield of 12.6%. This is an increase from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, December 11th. TELUS’s dividend payout ratio (DPR) is presently 220.00%.

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.