Adage Capital Partners GP L.L.C. Invests $13.41 Million in Nutrien Ltd. $NTR

Adage Capital Partners GP L.L.C. purchased a new position in Nutrien Ltd. (NYSE:NTR) during the first quarter, HoldingsChannel.com reports. The fund purchased 270,000 shares of the company’s stock, valued at approximately $13,411,000.

A number of other hedge funds have also recently made changes to their positions in NTR. JPMorgan Chase & Co. boosted its position in shares of Nutrien by 48.7% in the 1st quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company’s stock worth $347,319,000 after purchasing an additional 2,291,518 shares in the last quarter. Vanguard Group Inc. raised its holdings in Nutrien by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company’s stock worth $1,051,709,000 after acquiring an additional 1,412,503 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Nutrien by 17.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company’s stock worth $436,137,000 after acquiring an additional 1,284,181 shares during the last quarter. Nuveen LLC purchased a new position in Nutrien in the 1st quarter worth approximately $63,542,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Nutrien by 16.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 6,554,638 shares of the company’s stock worth $326,927,000 after acquiring an additional 927,041 shares during the last quarter. 63.10% of the stock is owned by institutional investors.

Nutrien Price Performance

Shares of NTR opened at $56.39 on Friday. The firm has a market cap of $27.41 billion, a PE ratio of 20.21, a P/E/G ratio of 0.96 and a beta of 0.77. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $58.65 and a two-hundred day simple moving average of $56.13. Nutrien Ltd. has a 1-year low of $43.69 and a 1-year high of $65.08.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.24. The business had revenue of $10.30 billion during the quarter, compared to analyst estimates of $10.40 billion. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. On average, equities analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Monday, September 29th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.9%. Nutrien’s payout ratio is presently 78.14%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Nutrien in a report on Monday, July 14th. Morgan Stanley boosted their price objective on shares of Nutrien from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, June 26th. National Bankshares set a $64.00 price objective on shares of Nutrien and gave the stock a “sector perform” rating in a report on Friday. Oppenheimer boosted their price objective on shares of Nutrien from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Finally, Zacks Research upgraded shares of Nutrien from a “hold” rating to a “strong-buy” rating in a report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nutrien has a consensus rating of “Hold” and an average target price of $62.72.

Nutrien Company Profile

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.