Chemtrade Logistics Income Fund (TSE:CHE.UN) Hits New 1-Year High - Here's Why

Key Points

• Chemtrade Logistics Income Fund (TSE:CHE.UN) reached a new 52-week high of C$13.14 with a recent trading price of C$13.08, showing significant market activity with 394,824 shares exchanged.
• Multiple analysts have raised their price targets for CHE.UN, with Scotiabank upgrading its rating from "sector perform" to "outperform" and increasing its target price to C$15.00.
• The company declared a monthly dividend of $0.0575 with an annual yield of 5.3%, indicating a payout ratio of 60% for investors.

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) reached a new 52-week high on Friday . The company traded as high as C$13.14 and last traded at C$13.08, with a volume of 394824 shares trading hands. The stock had previously closed at C$12.90.

Analysts Set New Price Targets

CHE.UN has been the topic of a number of analyst reports. Scotiabank upgraded Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from C$13.50 to C$15.00 in a research note on Friday, August 15th. National Bankshares upped their price target on shares of Chemtrade Logistics Income Fund from C$16.50 to C$17.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Desjardins increased their price target on shares of Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the company a "buy" rating in a research note on Monday. Raymond James Financial lifted their price objective on shares of Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a research report on Monday. Finally, CIBC upped their target price on shares of Chemtrade Logistics Income Fund from C$10.50 to C$12.50 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$15.25.

Chemtrade Logistics Income Fund Price Performance

The stock has a market capitalization of C$1.53 billion, a price-to-earnings ratio of 11.89 and a beta of 1.50. The company's 50-day simple moving average is C$11.32 and its 200-day simple moving average is C$10.46. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48.

Chemtrade Logistics Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 29th will be paid a $0.0575 dividend. The ex-dividend date is Thursday, July 31st. This represents a c) annualized dividend and a yield of 5.3%. Chemtrade Logistics Income Fund's payout ratio is 60.00%.

Chemtrade Logistics Income Fund Company Profile

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance Chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces merchant, regenerated, and ultra pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides.

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