Chemtrade Logistics Income Fund (TSE:CHE.UN) Shares Pass Above 200-Day Moving Average of $7.99

Chemtrade Logistics Income Fund (TSE:CHE.UNGet Rating)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$7.99 and traded as high as C$8.87. Chemtrade Logistics Income Fund shares last traded at C$8.78, with a volume of 402,847 shares traded.

Analyst Ratings Changes

CHE.UN has been the topic of several recent analyst reports. Royal Bank of Canada upped their price target on Chemtrade Logistics Income Fund from C$9.00 to C$10.00 and gave the company an “outperform” rating in a research note on Friday, August 12th. BMO Capital Markets upped their target price on Chemtrade Logistics Income Fund from C$8.00 to C$9.00 in a research report on Friday, August 12th. National Bankshares increased 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 report on Wednesday, November 9th. Scotiabank increased their price objective on Chemtrade Logistics Income Fund from C$10.25 to C$10.50 in a research report on Friday, August 12th. Finally, Raymond James cut their target price on Chemtrade Logistics Income Fund from C$13.00 to C$12.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th.

Chemtrade Logistics Income Fund Price Performance

The stock’s 50-day moving average price is C$7.60 and its 200 day moving average price is C$7.99. The firm has a market cap of C$1.01 billion and a price-to-earnings ratio of -4.46. The company has a quick ratio of 0.48, a current ratio of 0.85 and a debt-to-equity ratio of 166.24.

Chemtrade Logistics Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 25th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, October 28th. This represents a $0.60 dividend on an annualized basis and a yield of 6.83%. Chemtrade Logistics Income Fund’s payout ratio is presently -30.49%.

About Chemtrade Logistics Income Fund

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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.

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