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

Chemtrade Logistics Income Fund (TSE:CHE.UN) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$9.33 and traded as high as C$11.11. Chemtrade Logistics Income Fund shares last traded at C$11.07, with a volume of 141,898 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CHE.UN shares. Scotiabank boosted 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. National Bankshares increased 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. BMO Capital Markets raised their price objective on Chemtrade Logistics Income Fund from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. CIBC increased 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. Finally, Desjardins upped their target price on shares of Chemtrade Logistics Income Fund from C$13.00 to C$13.25 and gave the stock a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$12.71.

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 firm has a market capitalization of C$1.29 billion, a PE ratio of 10.06 and a beta of 1.49. The firm’s 50-day moving average price is C$10.07 and its two-hundred day moving average price is C$9.33.

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 annualized dividend and a dividend yield of 5.96%. Chemtrade Logistics Income Fund’s dividend payout ratio is 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.