Nutrien (NYSE:NTR) Price Target Raised to $68.00

Nutrien (NYSE:NTR) had its price objective increased by Mizuho from $65.00 to $68.00 in a research report report published on Friday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

NTR has been the subject of a number of other reports. Scotiabank cut their price objective on Nutrien from $65.00 to $63.00 and set a “sector perform” rating for the company in a report on Monday, November 10th. UBS Group upped their target price on Nutrien from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Oppenheimer reiterated an “outperform” rating on shares of Nutrien in a research report on Wednesday, October 22nd. Wells Fargo & Company began coverage on shares of Nutrien in a research note on Tuesday, November 11th. They set an “equal weight” rating and a $64.00 price target on the stock. Finally, Bank of America reaffirmed a “neutral” rating and issued a $67.00 price objective on shares of Nutrien in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $65.12.

Nutrien Price Performance

NTR stock opened at $66.46 on Friday. The firm has a 50 day simple moving average of $60.53 and a two-hundred day simple moving average of $58.91. The stock has a market cap of $32.03 billion, a PE ratio of 17.91 and a beta of 0.72. Nutrien has a one year low of $45.78 and a one year high of $67.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.41 and a quick ratio of 0.89.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Nutrien had a net margin of 6.79% and a return on equity of 7.54%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. On average, analysts predict that Nutrien will post 3.72 EPS for the current fiscal year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were paid a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, December 31st. Nutrien’s payout ratio is presently 58.76%.

Institutional Investors Weigh In On Nutrien

A number of large investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in shares of Nutrien during the third quarter valued at about $37,000. Huntington National Bank raised its position in Nutrien by 72.6% during the 2nd quarter. Huntington National Bank now owns 656 shares of the company’s stock valued at $38,000 after purchasing an additional 276 shares during the last quarter. Eastern Bank lifted its holdings in Nutrien by 133.0% in the 4th quarter. Eastern Bank now owns 699 shares of the company’s stock worth $43,000 after buying an additional 399 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Nutrien by 42.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock worth $43,000 after buying an additional 219 shares during the period. Finally, Fulcrum Asset Management LLP bought a new stake in shares of Nutrien in the 3rd quarter worth approximately $46,000. 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.