Nutrien (NYSE:NTR) Price Target Raised to $53.00

Nutrien (NYSE:NTR) had its target price increased by Wells Fargo & Company from $52.00 to $53.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts have also weighed in on NTR. Raymond James raised Nutrien from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $40.00 to $50.00 in a report on Monday, January 13th. TD Securities reduced their target price on Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. CIBC reiterated an “outperformer” rating and issued a $55.00 price target (down previously from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. Finally, Piper Sandler boosted their price objective on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Nutrien currently has a consensus rating of “Moderate Buy” and an average target price of $58.94.

Nutrien Price Performance

Shares of NYSE:NTR opened at $52.31 on Tuesday. Nutrien has a one year low of $43.69 and a one year high of $60.87. The stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 1.17 and a beta of 0.81. The company has a 50-day simple moving average of $48.03 and a 200-day simple moving average of $48.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, analysts predict that Nutrien will post 3.5 EPS for the current year.

Nutrien Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a $0.939 dividend. This is an increase from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 annualized dividend and a dividend yield of 7.18%. The ex-dividend date of this dividend was Tuesday, December 31st. Nutrien’s dividend payout ratio is currently 144.97%.

Institutional Trading of Nutrien

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division acquired a new stake in shares of Nutrien during the 3rd quarter worth about $28,000. HHM Wealth Advisors LLC boosted its position in Nutrien by 331.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after acquiring an additional 480 shares during the last quarter. Asset Planning Inc purchased a new stake in Nutrien in the 4th quarter worth approximately $35,000. Exchange Traded Concepts LLC grew its stake in Nutrien by 96.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after acquiring an additional 416 shares during the period. Finally, Principal Securities Inc. raised its holdings in Nutrien by 138.1% in the 4th quarter. Principal Securities Inc. now owns 931 shares of the company’s stock valued at $42,000 after acquiring an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 63.10% of the company’s stock.

About Nutrien

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.