Nutrien (NYSE:NTR) Given New $53.00 Price Target at Wells Fargo & Company

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

Several other equities analysts have also weighed in on NTR. CIBC restated an “outperformer” rating and set a $55.00 target price (down previously from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. Piper Sandler upped their target price on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday. Oppenheimer initiated coverage on Nutrien in a research report on Thursday, December 12th. They set an “outperform” rating and a $60.00 price target on the stock. UBS Group downgraded Nutrien from a “buy” rating to a “neutral” rating and lowered their target price for the company from $66.00 to $51.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. upgraded Nutrien from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $40.00 to $50.00 in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Nutrien has an average rating of “Moderate Buy” and an average target price of $58.94.

Nutrien Price Performance

Shares of Nutrien stock opened at $52.31 on Tuesday. The stock has a market capitalization of $25.69 billion, a P/E ratio of 35.11, a PEG ratio of 1.17 and a beta of 0.81. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $48.03 and its 200 day moving average price is $48.06. Nutrien has a twelve month low of $43.69 and a twelve month high of $60.87.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Nutrien will post 3.5 earnings per share for the current year.

Nutrien Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Secured Retirement Advisors LLC acquired a new position in shares of Nutrien during the fourth quarter valued at $654,000. Strategic Financial Concepts LLC acquired a new position in Nutrien during the 4th quarter valued at about $210,000. Principal Securities Inc. grew its position in Nutrien by 138.1% in the 4th quarter. Principal Securities Inc. now owns 931 shares of the company’s stock worth $42,000 after purchasing an additional 540 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Nutrien by 3.5% in the fourth quarter. Rhumbline Advisers now owns 7,398 shares of the company’s stock valued at $331,000 after purchasing an additional 247 shares during the period. Finally, Asset Planning Inc bought a new stake in shares of Nutrien during the fourth quarter valued at approximately $35,000. 63.10% of the stock is currently owned by institutional investors.

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.