TELUS Co. (NYSE:TU) Shares Sold by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. decreased its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 97.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,400 shares of the Wireless communications provider’s stock after selling 391,437 shares during the quarter. TELUS accounts for approximately 0.1% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 19th largest holding. Summerhill Capital Management lnc.’s holdings in TELUS were worth $127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI raised its position in TELUS by 24.2% during the third quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock valued at $438,922,000 after acquiring an additional 5,094,269 shares in the last quarter. FMR LLC raised its position in TELUS by 192.0% during the third quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider’s stock valued at $22,257,000 after acquiring an additional 872,235 shares in the last quarter. Centre Asset Management LLC purchased a new position in TELUS during the fourth quarter valued at approximately $6,946,000. Duff & Phelps Investment Management Co. increased its position in shares of TELUS by 13.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock valued at $44,785,000 after buying an additional 317,000 shares in the last quarter. Finally, Nicola Wealth Management LTD. increased its position in shares of TELUS by 35.7% in the third quarter. Nicola Wealth Management LTD. now owns 1,060,819 shares of the Wireless communications provider’s stock valued at $17,801,000 after buying an additional 279,000 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

TU has been the subject of a number of recent analyst reports. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. National Bank Financial cut TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. Morgan Stanley initiated coverage on TELUS in a research report on Monday, December 16th. They issued an “equal weight” rating for the company. Finally, Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, TELUS presently has a consensus rating of “Hold” and an average target price of $26.00.

TELUS Stock Up 1.1 %

Shares of TU opened at $15.41 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. TELUS Co. has a one year low of $13.24 and a one year high of $18.16. The stock has a market capitalization of $23.11 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 5.09 and a beta of 0.75. The stock has a 50 day moving average price of $14.19 and a 200 day moving average price of $15.42.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same quarter in the previous year, the company posted $0.10 earnings per share. Equities research analysts forecast that TELUS Co. will post 0.71 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.2829 per share. This represents a $1.13 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend is Tuesday, March 11th. TELUS’s dividend payout ratio (DPR) is currently 232.65%.

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.