Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 12-Month High at $10.40

Chemtrade Logistics Income Fund (TSE:CHE.UN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$10.40 and last traded at C$10.36, with a volume of 98115 shares trading hands. The stock had previously closed at C$10.18.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CHE.UN. Desjardins lifted their price target on shares of Chemtrade Logistics Income Fund from C$13.00 to C$13.25 and gave the company a “buy” rating in a research report on Friday, August 16th. National Bankshares lifted their price target on shares of Chemtrade Logistics Income Fund from C$13.50 to C$14.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Scotiabank raised their price objective on shares of Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a research note on Monday, August 19th. Finally, CIBC raised their price objective on shares of Chemtrade Logistics Income Fund from C$13.50 to C$14.00 in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$12.85.

Chemtrade Logistics Income Fund Stock Performance

The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. The company has a market cap of C$1.22 billion, a PE ratio of 9.55 and a beta of 1.49. The business’s fifty day moving average is C$9.75 and its 200-day moving average is C$9.12.

Chemtrade Logistics Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 30th were issued a dividend of $0.055 per share. This represents a $0.66 annualized dividend and a yield of 6.29%. The ex-dividend date was Wednesday, July 31st. Chemtrade Logistics Income Fund’s dividend 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.