Chemtrade Logistics Income Fund (TSE:CHE.UN) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Chemtrade Logistics Income Fund's stock price has risen above its two hundred day moving average of C$10.38, reaching a high of C$11.22 during trading.
• Equities analysts have increased their target prices for the stock, with National Bankshares now targeting C$17.00, indicating a positive outlook for the company.
• The company announced a monthly dividend of $0.0575 per share, representing an annualized dividend yield of 6.2%.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.38 and traded as high as C$11.22. Chemtrade Logistics Income Fund shares last traded at C$11.12, with a volume of 385,446 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CHE.UN shares. Raymond James Financial boosted their price target on shares of Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a report on Monday. Scotiabank raised shares of Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from C$13.50 to C$15.00 in a research note on Friday. CIBC increased their target price on Chemtrade Logistics Income Fund from C$10.50 to C$12.50 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Desjardins boosted 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. Finally, National Bankshares upped their price objective on Chemtrade Logistics Income Fund from C$16.50 to C$17.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$15.25.

Chemtrade Logistics Income Fund Trading Up 1.0%

The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. The company has a fifty day moving average price of C$11.21 and a two-hundred day moving average price of C$10.41. The firm has a market capitalization of C$1.50 billion, a price-to-earnings ratio of 11.66 and a beta of 1.50.

Chemtrade Logistics Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.0575 per share. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Thursday, July 31st. Chemtrade Logistics Income Fund's payout ratio is currently 60.00%.

About Chemtrade Logistics Income Fund

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.