5 Best Undervalued Dividend Stocks to Buy Now

3. TELUS Corporation (NYSE: TU)

Number of Hedge Fund Holders: 13
Dividend Yield: 4.49%

TELUS Corporation (NYSE: TU) is a communication services company offering a range of telecommunications and information technology products and services in Canada. The company operates through its Wireless and Wireline segments and ranks 3rd on our list of the best undervalued dividend stocks to buy now.

This August, Desjardins analyst Jerome Dubreuil raised the price target on shares of TELUS Corporation (NYSE: TU) to $23.54. The analyst also reiterated a Buy rating on the stock.

In the second quarter of 2021, TELUS Corporation (NYSE: TU) had an EPS of $0.21, beating estimates by $0.01. The company’s revenue was $3.29 billion, up 18.35% year over year and beating estimates by $29.01 million. TELUS Corporation (NYSE: TU) has gained 10.45% in the past 6 months and 13.61% year to date.

By the end of the second quarter of 2021, 13 hedge funds out of the 873 tracked by Insider Monkey held stakes in TELUS Corporation (NYSE: TU) worth roughly $215 million. This is compared to 18 hedge funds in the previous quarter with a total stake value of approximately $200 million.