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

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$11.34 and traded as high as C$13.54. Chemtrade Logistics Income Fund shares last traded at C$13.34, with a volume of 281,586 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Desjardins raised their target price on Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Scotiabank raised Chemtrade Logistics Income Fund from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$13.50 to C$15.00 in a report on Friday, August 15th. Finally, Raymond James Financial lifted their price objective on Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a report on Monday, August 18th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.25.

Chemtrade Logistics Income Fund Stock Down 1.2%

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 company has a market cap of C$1.51 billion, a PE ratio of 12.47 and a beta of 1.29. The company has a fifty day moving average price of C$12.87 and a 200 day moving average price of C$11.34.

Chemtrade Logistics Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 31st will be paid a $0.0575 dividend. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Monday, September 29th. Chemtrade Logistics Income Fund’s payout ratio is currently 63.08%.

About Chemtrade Logistics Income Fund

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.