Chemtrade Logistics Income Fund (TSE:CHE.UN) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Chemtrade Logistics Income Fund's shares have recently crossed above their 200-day moving average, trading as high as C$13.29, indicating a positive trend in the stock price.
• Analysts have raised their price targets for the stock, with reports from Raymond James and Desjardins suggesting targets of C$16.00, while Scotiabank upgraded their rating to "outperform".
• The company announced a monthly dividend of $0.0575, reflecting a 5.2% dividend yield and a payout ratio of 63.08%, which is attractive for potential investors.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$11.05 and traded as high as C$13.29. Chemtrade Logistics Income Fund shares last traded at C$13.26, with a volume of 156,007 shares.

Analysts Set New Price Targets

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

Chemtrade Logistics Income Fund Price Performance

The firm has a market capitalization of C$1.50 billion, a PE ratio of 12.39 and a beta of 1.46. The stock has a 50-day moving average price of C$12.35 and a 200 day moving average price of C$11.05. 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 firm also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 31st will be given a $0.0575 dividend. The ex-dividend date is Monday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. Chemtrade Logistics Income Fund's payout ratio is 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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