Chemtrade Logistics Income Fund (TSE:CHE.UN) Sets New 52-Week High at $11.12

Chemtrade Logistics Income Fund (TSE:CHE.UN) shares reached a new 52-week high on Tuesday . The stock traded as high as C$11.12 and last traded at C$11.03, with a volume of 33794 shares changing hands. The stock had previously closed at C$11.02.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Scotiabank increased their target price on shares of Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a research report on Monday, August 19th. CIBC upped their price target on Chemtrade Logistics Income Fund from C$13.50 to C$14.00 in a research report on Friday, August 16th. Desjardins increased their price target on Chemtrade Logistics Income Fund from C$13.00 to C$13.25 and gave the stock a “buy” rating in a research note on Friday, August 16th. National Bankshares boosted their price objective on Chemtrade Logistics Income Fund from C$13.50 to C$14.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, BMO Capital Markets increased their target price on shares of Chemtrade Logistics Income Fund from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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 company has a market capitalization of C$1.28 billion, a PE ratio of 10.02 and a beta of 1.49. The company has a 50-day moving average price of C$9.88 and a two-hundred day moving average price of C$9.22.

Chemtrade Logistics Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 30th were issued a dividend of $0.055 per share. This represents a $0.66 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend was Wednesday, July 31st. Chemtrade Logistics Income Fund’s payout ratio 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.