BidaskClub upgraded shares of TELUS Corporation (NYSE:TU) (TSE:T) from a hold rating to a buy rating in a research note published on Tuesday morning.
TU has been the topic of a number of other reports. Canaccord Genuity reaffirmed a buy rating and set a $47.00 target price on shares of TELUS Corporation in a research report on Monday, May 8th. CIBC raised TELUS Corporation from a sector perform rating to a sector outperform rating in a research report on Wednesday, April 5th. Finally, Zacks Investment Research raised TELUS Corporation from a sell rating to a hold rating in a research report on Friday, March 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. TELUS Corporation currently has an average rating of Buy and a consensus price target of $42.50.
TELUS Corporation (NYSE:TU) opened at 33.76 on Tuesday. The stock’s 50 day moving average price is $33.69 and its 200 day moving average price is $32.94. The firm has a market capitalization of $19.95 billion, a PE ratio of 20.92 and a beta of 0.90. TELUS Corporation has a 52-week low of $30.31 and a 52-week high of $34.64.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 4th. Investors of record on Friday, June 9th will be issued a $0.4925 dividend. This is a positive change from TELUS Corporation’s previous quarterly dividend of $0.37. This represents a $1.97 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Wednesday, June 7th. TELUS Corporation’s payout ratio is currently 89.02%.
A number of hedge funds have recently made changes to their positions in the stock. Tdam USA Inc. raised its stake in shares of TELUS Corporation by 1.5% in the first quarter. Tdam USA Inc. now owns 6,957 shares of the Wireless communications provider’s stock valued at $225,000 after buying an additional 100 shares in the last quarter. Financial Counselors Inc. raised its stake in shares of 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 in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of TELUS Corporation by 0.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,151 shares of the Wireless communications provider’s stock valued at $800,000 after buying an additional 217 shares in the last quarter. World Asset Management Inc raised its stake in shares of TELUS Corporation by 1.1% in the first quarter. World Asset Management Inc now owns 36,887 shares of the Wireless communications provider’s stock valued at $1,198,000 after buying an additional 391 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of TELUS Corporation by 1.2% in the first quarter. Comerica Bank now owns 34,010 shares of the Wireless communications provider’s stock valued at $1,131,000 after buying an additional 416 shares in the last quarter. 52.86% of the stock is owned by hedge funds and other institutional investors.
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.
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