Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• The stock of Chemtrade Logistics Income Fund (TSE:CHE.UN) surpassed its 200-day moving average, trading at C$13.05 with a recent high of C$13.05.
• Several analysts upgraded CHE.UN, including Scotiabank, which raised the price target from C$13.50 to C$15.00 and now gives it an 'outperform' rating.
• The company announced a monthly dividend of $0.0575 per share, marking a yield of 5.3% and a payout ratio of 63.08%.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.58 and traded as high as C$13.05. Chemtrade Logistics Income Fund shares last traded at C$13.05, with a volume of 301,244 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CHE.UN. CIBC lifted 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. Desjardins raised their price objective 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. Raymond James Financial upped their target price on Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a research note on Monday, August 18th. Scotiabank raised shares of Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from C$13.50 to C$15.00 in a report on Friday, August 15th. Finally, National Bankshares increased their price objective on shares of Chemtrade Logistics Income Fund from C$16.50 to C$17.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$15.25.

Chemtrade Logistics Income Fund Stock Up 0.2%

The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48. The firm's 50 day moving average price is C$11.67 and its two-hundred day moving average price is C$10.64. The firm has a market cap of C$1.46 billion, a price-to-earnings ratio of 12.10 and a beta of 1.36.

Chemtrade Logistics Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be given a dividend of $0.0575 per share. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Friday, August 29th. 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 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.