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

Chemtrade Logistics Income Fund (TSE:CHE.UN) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$9.45 and traded as high as C$11.09. Chemtrade Logistics Income Fund shares last traded at C$11.00, with a volume of 174,164 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. 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 company an “outperform” rating in a research note on Tuesday, September 24th. National Bankshares increased 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 report on Friday, August 16th. Desjardins boosted their target price on Chemtrade Logistics Income Fund from C$13.00 to C$13.25 and gave the company a “buy” rating in a research report on Friday, August 16th. CIBC increased their price target on Chemtrade Logistics Income Fund from C$13.50 to C$14.00 in a report on Friday, August 16th. Finally, Scotiabank raised their price target on Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$12.71.

Chemtrade Logistics Income Fund Stock Down 0.2 %

The stock has a market cap of C$1.28 billion, a PE ratio of 10.00 and a beta of 1.50. The business has a fifty day moving average of C$10.27 and a 200-day moving average of C$9.45. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48.

Chemtrade Logistics Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 30th were given a dividend of $0.055 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date was Wednesday, July 31st. Chemtrade Logistics Income Fund’s payout ratio is 60.00%.

Chemtrade Logistics Income Fund Company Profile

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.