Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Passes Above 200 Day Moving Average of $8.96

Chemtrade Logistics Income Fund (TSE:CHE.UN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$8.96 and traded as high as C$10.01. Chemtrade Logistics Income Fund shares last traded at C$9.87, with a volume of 243,626 shares.

Analysts Set New Price Targets

Several brokerages have recently commented on CHE.UN. Desjardins increased their target price on Chemtrade Logistics Income Fund from C$13.00 to C$13.25 and gave the stock a “buy” rating in a report on Friday, August 16th. Royal Bank of Canada increased their price target on shares of Chemtrade Logistics Income Fund from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Scotiabank boosted their price objective on shares of Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a report on Monday, August 19th. CIBC increased their target price on shares of Chemtrade Logistics Income Fund from C$13.50 to C$14.00 in a report on Friday, August 16th. Finally, National Bankshares lifted their price target on shares of Chemtrade Logistics Income Fund from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$12.85.

Chemtrade Logistics Income Fund Price Performance

The company’s fifty day moving average price is C$9.53 and its two-hundred day moving average price is C$8.96. The company has a market cap of C$1.15 billion, a price-to-earnings ratio of 8.97 and a beta of 1.49. 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 Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 30th were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.69%. Chemtrade Logistics Income Fund’s payout ratio is presently 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.