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

Key Points

• Adage Capital Partners has invested approximately $13.41 million to acquire 270,000 shares of Nutrien Ltd. during the 1st quarter, representing 0.06% of the company's total stock.
• The company announced a quarterly dividend of $0.545, set to be paid on October 17th, translating to an annualized yield of 3.9%.
• Nutrien reported earnings of $2.65 per share for the last quarter, exceeding expectations, with a revenue of $10.30 billion, slightly below the forecast of $10.40 billion.

Adage Capital Partners GP L.L.C. acquired a new position in Nutrien Ltd. (NYSE:NTR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 270,000 shares of the company's stock, valued at approximately $13,411,000. Adage Capital Partners GP L.L.C. owned 0.06% of Nutrien at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NTR. Harbour Investments Inc. increased its holdings in shares of Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock worth $35,000 after buying an additional 348 shares during the period. Allworth Financial LP increased its holdings in shares of Nutrien by 117.1% in the first quarter. Allworth Financial LP now owns 938 shares of the company's stock worth $50,000 after buying an additional 506 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Nutrien by 1,074.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company's stock worth $51,000 after purchasing an additional 935 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Nutrien by 4,866.7% in the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock worth $52,000 after purchasing an additional 1,022 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Nutrien in the first quarter worth about $65,000. Hedge funds and other institutional investors own 63.10% of the company's stock.

Nutrien Stock Performance

Nutrien stock opened at $56.39 on Friday. The stock's 50 day simple moving average is $58.65 and its two-hundred day simple moving average is $56.13. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market cap of $27.41 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.96 and a beta of 0.77. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.24. The business had revenue of $10.30 billion for the quarter, compared to analysts' expectations of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The business's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 EPS. As a group, analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Raymond James Financial cut Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 target price on the stock. in a research note on Tuesday, June 17th. Scotiabank cut their target price on Nutrien from $62.00 to $60.00 and set a "sector perform" rating on the stock in a research note on Monday, August 11th. Wells Fargo & Company raised their target price on Nutrien from $59.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. National Bankshares set a $64.00 target price on Nutrien and gave the stock a "sector perform" rating in a research note on Friday. Finally, The Goldman Sachs Group raised their target price on Nutrien from $53.00 to $59.00 and gave the stock a "sell" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $62.72.

About Nutrien

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.

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