Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$15.42 and traded as high as C$17.02. Chemtrade Logistics Income Fund shares last traded at C$17.00, with a volume of 169,798 shares.

Wall Street Analysts Forecast Growth

CHE.UN has been the topic of several research reports. Royal Bank Of Canada increased their target price on Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Raymond James Financial raised Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$15.00 to C$21.00 in a research report on Tuesday, April 28th. National Bank Financial increased their target price on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Scotia increased their target price on Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. Finally, BMO Capital Markets raised Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 target price on the stock in a research report on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.25.

Chemtrade Logistics Income Fund Price Performance

The company has a 50-day moving average price of C$16.31 and a two-hundred day moving average price of C$15.42. 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 company has a market cap of C$1.89 billion, a PE ratio of 16.50 and a beta of 0.65.

Chemtrade Logistics Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 4.2%. Chemtrade Logistics Income Fund’s dividend payout ratio is presently 67.72%.

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. It generates maximum revenue from Electrochemicals segment. Chemtrade operates in Canada, the United States, and South America of which maximum revenue comes from the United States. SPPC markets, remove and produces merchant, regenerated and ultra-pure sulphuric acid, liquid sulphur dioxide, sodium hydrosulfite and provides other processing services.