Chemtrade Logistics Income Fund (TSE:CHE.UN) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Chemtrade Logistics Income Fund shares crossed above their two hundred-day moving average, trading at C$13.41 with a peak of C$13.53, indicating positive market momentum.
• Analysts have upgraded the stock, with Scotiabank raising its rating to "outperform" and increasing the price target to C$15.00, while other firms also raised their targets to C$16.00.
• The company has announced a monthly dividend of $0.0575 per share with a dividend yield of 5.1%, set to be paid on October 31st.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$11.20 and traded as high as C$13.53. Chemtrade Logistics Income Fund shares last traded at C$13.41, with a volume of 144,545 shares trading hands.

Wall Street Analyst Weigh In

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

Chemtrade Logistics Income Fund Trading Down 0.2%

The company has a market cap of C$1.51 billion, a price-to-earnings ratio of 12.53 and a beta of 1.29. The company's fifty day moving average price is C$12.61 and its two-hundred day moving average price is C$11.20. The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02.

Chemtrade Logistics Income Fund Announces Dividend

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

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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