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

by · The Cerbat Gem

Chemtrade Logistics Income Fund (TSE:CHE.UN – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-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 traded.

Analyst Ratings Changes

CHE.UN has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price 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. BMO Capital Markets upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 target price for the company in a research note on Thursday, April 23rd. Raymond James Financial upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and raised their target price for the company from C$15.00 to C$21.00 in a research note on Tuesday, April 28th. National Bank Financial raised their target price 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. Finally, Scotia raised their target price 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. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$19.25.

Read Our Latest Analysis on CHE.UN

Chemtrade Logistics Income Fund Stock Up 0.9%

The firm 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 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 capitalization of C$1.89 billion, a price-to-earnings ratio of 16.50 and a beta of 0.65.

Chemtrade Logistics Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.06 per share. The ex-dividend date 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 (DPR) is currently 67.72%.

About Chemtrade Logistics Income Fund

(Get Free Report)

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.

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