Bayesian Capital Management LP Has $1.21 Million Position in TELUS Co. (NYSE:TU)

Bayesian Capital Management LP increased its position in TELUS Co. (NYSE:TU) (TSE:T) by 90.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,300 shares of the Wireless communications provider’s stock after buying an additional 35,700 shares during the period. Bayesian Capital Management LP’s holdings in TELUS were worth $1,206,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in TELUS by 215.8% during the fourth quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider’s stock worth $395,314,000 after purchasing an additional 15,179,110 shares during the period. TD Asset Management Inc boosted its position in TELUS by 18.4% during the fourth quarter. TD Asset Management Inc now owns 40,669,392 shares of the Wireless communications provider’s stock worth $727,275,000 after purchasing an additional 6,334,692 shares during the period. Clearbridge Investments LLC bought a new stake in TELUS during the fourth quarter worth approximately $109,327,000. Norges Bank bought a new stake in TELUS during the fourth quarter worth approximately $82,775,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of TELUS by 15.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock valued at $511,646,000 after acquiring an additional 3,860,487 shares during the period. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut TELUS from a “hold” rating to a “sell” rating in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, TELUS has an average rating of “Hold” and an average price target of $26.20.

TELUS Stock Up 0.8 %

Shares of TU stock opened at $16.11 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.75 and a quick ratio of 0.70. The stock has a fifty day moving average price of $15.81 and a 200 day moving average price of $16.52. TELUS Co. has a one year low of $14.63 and a one year high of $19.14. The stock has a market cap of $23.88 billion, a P/E ratio of 40.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. TELUS had a return on equity of 7.90% and a net margin of 3.73%. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.73 billion. Analysts predict that TELUS Co. will post 0.75 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th were paid a $0.282 dividend. The ex-dividend date of this dividend was Monday, June 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.00%. TELUS’s dividend payout ratio (DPR) is 292.32%.

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.