Chemtrade Logistics Income Fund (TSE:CHE.UN) Price Target Raised to C$20.00

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its price target boosted by Royal Bank Of Canada from C$18.00 to C$20.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on CHE.UN. Raymond James Financial upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and increased their price target for the stock from C$15.00 to C$21.00 in a report on Tuesday, April 28th. National Bank Financial boosted their target price on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, BMO Capital Markets upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 price objective on the stock in a research note on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Chemtrade Logistics Income Fund has an average rating of “Moderate Buy” and an average price target of C$19.25.

Chemtrade Logistics Income Fund Price Performance

Chemtrade Logistics Income Fund stock opened at C$16.87 on Wednesday. The company has a debt-to-equity ratio of 128.02, a quick ratio of 0.48 and a current ratio of 0.40. Chemtrade Logistics Income Fund has a 52 week low of C$10.95 and a 52 week high of C$18.43. The stock has a market capitalization of C$1.88 billion, a P/E ratio of 16.38 and a beta of 0.65. The stock has a fifty day moving average of C$16.08 and a 200-day moving average of C$15.26.

Chemtrade Logistics Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. Chemtrade Logistics Income Fund’s payout ratio is 67.72%.

Chemtrade Logistics Income Fund Company Profile

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.