Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.11 and traded as high as C$17.84. Chemtrade Logistics Income Fund shares last traded at C$17.80, with a volume of 256,966 shares changing hands.

Wall Street Analysts Forecast Growth

CHE.UN has been the subject of several research analyst reports. National Bank Financial upped their target price on shares of Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a research note on Monday, April 13th. BMO Capital Markets upgraded shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 target price for the company in a research note on Thursday, April 23rd. Finally, Raymond James Financial upgraded shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$15.00 to C$21.00 in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Chemtrade Logistics Income Fund currently has an average rating of “Moderate Buy” and an average price target of C$19.00.

Chemtrade Logistics Income Fund Price Performance

The stock has a market cap of C$1.99 billion, a P/E ratio of 14.50 and a beta of 0.65. 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 company’s fifty day simple moving average is C$15.87 and its 200-day simple moving average is C$15.11.

Chemtrade Logistics Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 29th will be issued a $0.06 dividend. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, April 30th. Chemtrade Logistics Income Fund’s payout ratio is 56.56%.

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. It generates maximum revenue from Electrochemicals segment. Chemtrade operates in Canada, the United States, and South America of which maximum revenue comes from the United States. SPPC markets, remove and produces merchant, regenerated and ultra-pure sulphuric acid, liquid sulphur dioxide, sodium hydrosulfite and provides other processing services.