Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 52-Week High After Dividend Announcement

Key Points

• Chemtrade Logistics Income Fund reached a new 52-week high of C$13.47 after announcing a dividend of $0.0575 per share, with an annualized dividend yield of 5.1%.
• Analysts have upgraded the stock's target price, with Desjardins and Raymond James both setting new targets of C$16.00, reflecting a positive outlook and buying sentiment.
• The stock currently has a consensus rating of "Moderate Buy" from four analysts, highlighting investor confidence in its performance.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) hit a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as C$13.47 and last traded at C$13.44, with a volume of 309386 shares traded. The stock had previously closed at C$13.26.The newly announced dividend which will be paid on Friday, October 31st. Stockholders of record on Friday, October 31st will be given a dividend of $0.0575 per share. The ex-dividend date is Monday, September 29th. This represents a c) annualized dividend and a dividend yield of 5.1%. Chemtrade Logistics Income Fund's payout ratio is currently 63.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Desjardins upped their target price on Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Scotiabank raised shares of Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from C$13.50 to C$15.00 in a research note on Friday, August 15th. Finally, Raymond James Financial upped their price target on shares of Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a research note on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$15.25.

Chemtrade Logistics Income Fund Price Performance

The firm's 50-day moving average is C$12.35 and its two-hundred day moving average is C$11.05. The company has a market cap of C$1.52 billion, a P/E ratio of 12.56 and a beta of 1.46. 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 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.

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