Chemtrade Logistics Income Fund (TSE:CHE.UN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.75 and traded as high as C$14.57. Chemtrade Logistics Income Fund shares last traded at C$14.50, with a volume of 39,742 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CHE.UN. Royal Bank Of Canada increased their target price on shares of Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a research report on Thursday, November 13th. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from C$16.00 to C$21.00 in a research note on Thursday, November 13th. CIBC lifted their target price on shares of Chemtrade Logistics Income Fund from C$16.00 to C$19.00 in a research note on Friday, November 14th. BMO Capital Markets boosted their target price on Chemtrade Logistics Income Fund from C$15.00 to C$20.00 in a report on Thursday, November 13th. Finally, Scotiabank lowered Chemtrade Logistics Income Fund from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from C$15.00 to C$17.00 in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$18.29.

Chemtrade Logistics Income Fund Stock Down 0.3%

The company has a debt-to-equity ratio of 128.02, a quick ratio of 0.48 and a current ratio of 0.40. The stock has a market cap of C$1.68 billion, a price-to-earnings ratio of 15.10 and a beta of 1.13. The firm’s 50-day simple moving average is C$14.03 and its two-hundred day simple moving average is C$12.78.

Chemtrade Logistics Income Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 31st were issued a $0.0575 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is currently 71.09%.

About Chemtrade Logistics Income Fund

Chemtrade Logistics Income Fund provides industrial chemicals and services to customers in North America and around the world. The company organized into four main operating segments: Sulphur Products and Performance Chemicals (SPPC), Water Solutions and Specialty Chemicals (WSSC), Electrochemicals, and Corporate. It generates maximum revenue from Electrochemicals segment. Chemtrade operates in Canada, the United States, and South America of which maximum revenue comes from the United States. SPPC markets, remove and produces merchant, regenerated and ultra-pure sulphuric acid, liquid sulphur dioxide, sodium hydrosulfite and provides other processing services.