Updates on Telus, Cenovus Energy and TC Energy

Article Excerpt

TELUS $47.44 (Toronto symbol T; Shares outstanding: 601.0 million; Market cap: $28.4 billion; TSINetwork Rating: Above Average; Dividend yield: 4.7%; www.telus.com) is Canada’s third-largest wireless carrier after Rogers Communications (No. 1) and Bell Mobility (No. 2). The company’s wireless business has 9.7 million subscribers and supplies about 55% of its revenue and 70% of its earnings. Telus now offers an unlimited wireless data plan in response to similar offers from other carriers. Eliminating data overcharges will probably hurt the company’s revenue. However, increased satisfaction should help Telus hang on to more of its customers. In the first quarter of 2019, its overall churn rate, which shows how many new and long-term wireless subscribers cancelled their service, improved to 1.02% from 1.10% a year earlier. Telus is a buy. CENOVUS ENERGY $12.27 (Toronto symbol CVE; Shares outstanding: 1.2 billion; Market cap: $15.0 billion; TSINetwork Rating: Average; Dividend yield: 1.6%; www.cenovus.com) acquired 100% of its main Alberta oil sands properties—Christina Lake and Foster Creek—in May 2017. It paid ConocoPhillips…

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