Polar Asset Management Partners Inc. Purchases 20,728 Shares of TELUS Co. (NYSE:TU)

Polar Asset Management Partners Inc. boosted its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 34.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,665 shares of the Wireless communications provider’s stock after acquiring an additional 20,728 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in TELUS were worth $1,370,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TU. Fairscale Capital LLC bought a new position in shares of TELUS in the second quarter valued at about $27,000. Blue Trust Inc. grew its position in TELUS by 60.4% during the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock worth $41,000 after buying an additional 954 shares in the last quarter. Trust Co. of Vermont raised its holdings in TELUS by 19.0% in the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock valued at $128,000 after acquiring an additional 1,218 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of TELUS during the 2nd quarter worth $123,000. Finally, Unique Wealth Strategies LLC bought a new position in shares of TELUS in the second quarter worth $141,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Price Performance

Shares of TU stock opened at $15.76 on Friday. The business has a fifty day simple moving average of $15.86 and a 200 day simple moving average of $16.01. The company has a market cap of $23.64 billion, a P/E ratio of 33.53, a P/E/G ratio of 2.26 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50. TELUS Co. has a twelve month low of $14.63 and a twelve month high of $19.14.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. On average, sell-side analysts forecast that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. The ex-dividend date is Wednesday, December 11th. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a dividend yield of 7.54%. TELUS’s dividend payout ratio is 253.19%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Scotiabank raised shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.00.

TELUS Profile

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.