Updates on Telus, Cenovus Energy and BCE Inc.

Article Excerpt

TELUS $43.51 (Toronto symbol T; Shares outstanding: 591.4 million; Market cap: $25.7 billion; TSINetwork Rating: Above Average; Dividend yield: 4.4%; www.telus. com) provides a wide range of telecommunications services across Canada, including television, high-speed Internet, and wireless and landline telephone services. The company recently agreed to repurchase up to 1.0 million of its shares from a private seller at a discount to the market price. The move is part of Telus’s plan to buy back up to 8.0 million of its common shares, or roughly 1% of the total outstanding, by September 29, 2017. Share buybacks raise earnings per share and other per-share calculations. That gives the remaining shareholders a larger stake in the company. Telus is a buy. CENOVUS ENERGY $20.27 (Toronto symbol CVE; Shares outstanding: 833.2 million; Market cap: $16.9 billion; TSINetwork Rating: Average; Dividend yield: 1.0%; www.cenovus.com) owns oil sands operations and conventional wells in Western Canada. It ships the oil to its 50%-owned refineries in Illinois and Texas. Due to rising…