Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 1-Year High After Analyst Upgrade

Chemtrade Logistics Income Fund (TSE:CHE.UN) hit a new 52-week high during trading on Wednesday after BMO Capital Markets raised their price target on the stock from C$11.00 to C$12.00. BMO Capital Markets currently has an outperform rating on the stock. Chemtrade Logistics Income Fund traded as high as C$10.81 and last traded at C$10.81, with a volume of 49259 shares. The stock had previously closed at C$10.69.

Other equities research analysts also recently issued research reports about the company. Scotiabank raised their price objective on Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a report on Monday, August 19th. Desjardins raised their price target on shares of Chemtrade Logistics Income Fund from C$13.00 to C$13.25 and gave the company a “buy” rating in a research note on Friday, August 16th. National Bankshares boosted their price objective 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 note on Friday, August 16th. Finally, CIBC raised their target price on Chemtrade Logistics Income Fund from C$13.50 to C$14.00 in a research report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Chemtrade Logistics Income Fund presently has an average rating of “Moderate Buy” and a consensus target price of C$12.71.

Chemtrade Logistics Income Fund Stock Performance

The company’s 50-day moving average is C$9.79 and its two-hundred day moving average is C$9.18. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. The firm has a market cap of C$1.26 billion, a P/E ratio of 9.72 and a beta of 1.49.

Chemtrade Logistics Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 30th were issued a $0.055 dividend. This represents a $0.66 annualized dividend and a yield of 6.11%. The ex-dividend date was Wednesday, July 31st. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is presently 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.