Oppenheimer Issues Positive Forecast for Nutrien (NYSE:NTR) Stock Price

Nutrien (NYSE:NTR) had its price target boosted by Oppenheimer from $76.00 to $78.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Nutrien from $68.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Raymond James Financial raised their price target on Nutrien from $68.00 to $74.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Barclays boosted their price target on Nutrien from $64.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 18th. UBS Group increased their price objective on Nutrien from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Finally, TD Securities lifted their price objective on Nutrien from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Nutrien has a consensus rating of “Hold” and a consensus target price of $72.24.

Nutrien Trading Up 0.8%

NYSE:NTR opened at $73.13 on Thursday. The company has a market capitalization of $35.19 billion, a PE ratio of 15.69 and a beta of 0.73. The company has a quick ratio of 0.70, a current ratio of 1.34 and a debt-to-equity ratio of 0.37. Nutrien has a 52-week low of $45.78 and a 52-week high of $73.55. The stock has a fifty day simple moving average of $67.06 and a 200-day simple moving average of $61.08.

Nutrien (NYSE:NTR) last issued 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). Nutrien had a net margin of 8.43% and a return on equity of 8.41%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the company posted $0.31 earnings per share. Nutrien’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Nutrien will post 3.72 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.0%. This is a boost from Nutrien’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, March 31st. Nutrien’s dividend payout ratio (DPR) is currently 46.78%.

Institutional Trading of Nutrien

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Montag A & Associates Inc. lifted its holdings in shares of Nutrien by 310.7% during the 4th 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 period. Root Financial Partners LLC purchased a new stake in Nutrien in the third quarter valued at approximately $37,000. Sfam LLC acquired a new position in Nutrien during the fourth quarter worth approximately $37,000. Huntington National Bank raised its stake in Nutrien by 72.6% during the second quarter. Huntington National Bank now owns 656 shares of the company’s stock worth $38,000 after purchasing an additional 276 shares during the period. Finally, Eastern Bank raised its stake in Nutrien by 133.0% during the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock worth $43,000 after purchasing an additional 399 shares during the period. Hedge funds and other 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.