Nutrien (NYSE:NTR) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Nutrien (NYSE:NTR) from an underweight rating to an overweight rating in a research note issued to investors on Monday morning, Marketbeat reports. The firm currently has $58.00 price objective on the stock, up from their prior price objective of $50.00.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company cut shares of Nutrien from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $62.00 to $50.00 in a research report on Tuesday, September 24th. Raymond James upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. TD Securities decreased their target price on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Oppenheimer began coverage on shares of Nutrien in a research report on Thursday, December 12th. They issued an “outperform” rating and a $60.00 target price on the stock. Finally, CIBC reiterated an “outperformer” rating and issued a $55.00 target price (down previously from $60.00) on shares of Nutrien in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.21.

Nutrien Stock Performance

Nutrien stock opened at $51.19 on Monday. The firm’s fifty day moving average price is $46.88 and its 200-day moving average price is $47.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The stock has a market cap of $25.21 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 1.73 and a beta of 0.81. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $60.87.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. On average, equities research analysts expect that Nutrien will post 3.5 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.939 per share. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 7.34%. Nutrien’s payout ratio is presently 144.97%.

Institutional Investors Weigh In On Nutrien

A number of large investors have recently modified their holdings of NTR. Central Pacific Bank Trust Division purchased a new position in Nutrien during the 3rd quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Nutrien during the 2nd quarter valued at about $52,000. Larson Financial Group LLC lifted its position in Nutrien by 1,370.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,603 shares of the company’s stock valued at $77,000 after acquiring an additional 1,494 shares during the period. Cromwell Holdings LLC lifted its position in Nutrien by 113.4% during the 3rd quarter. Cromwell Holdings LLC now owns 1,694 shares of the company’s stock valued at $82,000 after acquiring an additional 900 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Nutrien by 56.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,680 shares of the company’s stock valued at $86,000 after acquiring an additional 605 shares during the period. Institutional investors own 63.10% of the company’s stock.

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.