Chemtrade Logistics Income Fund (TSE:CHE.UN) Sets New 12-Month High - Here's What Happened

Key Points

• Chemtrade Logistics Income Fund hit a new 12-month high at C$13.55 during trading with last reported trading at C$13.50 and a volume of 556,509 shares.
• Analysts show positive growth outlook, with Scotiabank upgrading the stock rating to "outperform" and increasing the price target from C$13.50 to C$15.00.
• The company announced a monthly dividend of $0.0575 per share, resulting in a dividend yield of 5.1%, payable on October 31st.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$13.55 and last traded at C$13.50, with a volume of 556509 shares. The stock had previously closed at C$13.38.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CHE.UN. Scotiabank raised shares of Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$13.50 to C$15.00 in a research note on Friday, August 15th. Desjardins lifted their price target 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. Finally, Raymond James Financial lifted their target price on Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a report on Monday, August 18th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Chemtrade Logistics Income Fund has an average rating of "Moderate Buy" and a consensus target price of C$15.25.

Chemtrade Logistics Income Fund Stock Up 0.9%

The company has a 50-day simple moving average of C$12.78 and a 200-day simple moving average of C$11.31. The firm has a market cap of C$1.52 billion, a PE ratio of 12.62 and a beta of 1.29. 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 Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 31st will be paid a dividend of $0.0575 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, September 29th. Chemtrade Logistics Income Fund's payout ratio is currently 63.08%.

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.

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