Nutrien (NYSE:NTR) Given New $80.00 Price Target at Oppenheimer

Nutrien (NYSE:NTR) had its price objective increased by Oppenheimer from $78.00 to $80.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. BMO Capital Markets boosted their price objective on Nutrien from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. BNP Paribas Exane lowered Nutrien from an “outperform” rating to a “neutral” rating in a research note on Monday, February 23rd. Morgan Stanley boosted their price objective on Nutrien from $77.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Jefferies Financial Group raised Nutrien from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $74.00 to $96.00 in a research note on Thursday, March 12th. Finally, Wall Street Zen lowered Nutrien from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.06.

Nutrien Price Performance

Nutrien stock opened at $71.56 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.34. The firm has a market cap of $34.40 billion, a P/E ratio of 15.36 and a beta of 0.69. The business’s fifty day moving average is $74.55 and its two-hundred day moving average is $66.03. Nutrien has a 52 week low of $52.34 and a 52 week high of $85.36.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a return on equity of 8.41% and a net margin of 8.43%.Nutrien’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. Equities research analysts forecast that Nutrien will post 4.69 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.55 per share. The ex-dividend date was Tuesday, March 31st. This is an increase from Nutrien’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Nutrien’s dividend payout ratio is presently 47.21%.

Institutional Investors Weigh In On Nutrien

Institutional investors and hedge funds have recently made changes to their positions in the company. Montag A & Associates Inc. raised its position in shares of Nutrien by 310.7% during the fourth quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Nutrien during the third quarter worth $37,000. Sfam LLC bought a new stake in shares of Nutrien during the fourth quarter worth $37,000. Eastern Bank raised its position in shares of Nutrien by 133.0% during the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock worth $43,000 after acquiring an additional 399 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Nutrien by 97.2% during the fourth quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock worth $43,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.