Telus Corp. (NYSE:TU) (TSE:T) has earned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock. Nine analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $39.67.
TU has been the topic of several research reports. Zacks Investment Research raised Telus Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Desjardins raised Telus Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Canaccord Genuity reissued a “hold” rating on shares of Telus Corp. in a research report on Friday, August 5th. TheStreet raised Telus Corp. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, Barclays PLC raised their price objective on Telus Corp. from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, August 8th.
Shares of Telus Corp. (NYSE:TU) opened at 31.48 on Wednesday. The firm has a market capitalization of $18.60 billion, a PE ratio of 17.90 and a beta of 0.89. The company has a 50 day moving average price of $31.83 and a 200-day moving average price of $32.40. Telus Corp. has a 12 month low of $24.34 and a 12 month high of $34.12.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.10%. This is a positive change from Telus Corp.’s previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, December 7th. Telus Corp.’s payout ratio is presently 78.21%.
Several hedge funds have recently made changes to their positions in TU. Bank of Montreal Can acquired a new stake in shares of Telus Corp. during the second quarter worth about $608,248,000. The Manufacturers Life Insurance Company purchased a new position in Telus Corp. during the third quarter worth approximately $314,872,000. Mackenzie Financial Corp purchased a new position in Telus Corp. during the second quarter worth approximately $151,105,000. Montrusco Bolton Investments Inc. increased its position in Telus Corp. by 179.3% in the second quarter. Montrusco Bolton Investments Inc. now owns 2,979,926 shares of the company’s stock worth $95,453,000 after buying an additional 1,912,830 shares during the period. Finally, Citadel Advisors LLC purchased a new position in Telus Corp. during the second quarter worth approximately $56,218,000. 54.38% of the stock is currently owned by institutional investors and hedge funds.