Chemtrade Logistics Income Fund (TSE:CHE.UN) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

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$15.52 and traded as high as C$16.83. Chemtrade Logistics Income Fund shares last traded at C$16.54, with a volume of 171,157 shares traded.

Wall Street Analyst Weigh In

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

Chemtrade Logistics Income Fund Price Performance

The stock has a market capitalization of C$1.84 billion, a PE ratio of 16.06 and a beta of 0.65. 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 stock’s 50 day moving average price is C$16.47 and its 200-day moving average price is C$15.52.

Chemtrade Logistics Income Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were paid a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Thursday, April 30th. Chemtrade Logistics Income Fund’s payout ratio 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.