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)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.69 and traded as high as C$16.61. Chemtrade Logistics Income Fund shares last traded at C$16.34, with a volume of 199,383 shares traded.

Analyst Upgrades and Downgrades

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

Chemtrade Logistics Income Fund Stock Performance

The firm has a market capitalization of C$1.82 billion, a price-to-earnings ratio of 15.86 and a beta of 0.83. 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 has a 50 day moving average price of C$16.57 and a 200-day moving average price of C$15.69.

Chemtrade Logistics Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 29th were paid a $0.06 dividend. The ex-dividend date was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 4.4%. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is currently 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.