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

Chemtrade Logistics Income Fund (TSE:CHE.UN) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$10.33 and traded as high as C$11.15. Chemtrade Logistics Income Fund shares last traded at C$11.08, with a volume of 260,190 shares traded.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CHE.UN. Desjardins increased their price target on shares of Chemtrade Logistics Income Fund from C$15.00 to C$15.50 and gave the stock a “buy” rating in a research report on Thursday. CIBC lifted their price target on shares of Chemtrade Logistics Income Fund from C$10.50 to C$12.50 and gave the stock a “neutral” rating in a report on Thursday. National Bankshares upped their price objective on shares of Chemtrade Logistics Income Fund from C$16.50 to C$17.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Raymond James boosted their target price on shares of Chemtrade Logistics Income Fund from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$14.33.

Chemtrade Logistics Income Fund Stock Down 0.4%

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 stock’s 50-day simple moving average is C$9.72 and its 200-day simple moving average is C$10.33. The firm has a market capitalization of C$1.29 billion, a P/E ratio of 10.07 and a beta of 1.50.

Chemtrade Logistics Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a $0.0575 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 6.23%. This is an increase from Chemtrade Logistics Income Fund’s previous monthly dividend of $0.06. The ex-dividend date was Friday, February 28th. Chemtrade Logistics Income Fund’s dividend payout ratio is presently 60.00%.

Insiders Place Their Bets

In other Chemtrade Logistics Income Fund news, Senior Officer Timothy Neil Montgomery purchased 60,921 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were bought at an average cost of C$9.14 per share, for a total transaction of C$556,817.94. Also, Senior Officer Scott William Rook purchased 12,428 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average price of C$9.66 per share, for a total transaction of C$120,054.48. 0.19% of the stock is currently owned by insiders.

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.