Analysts Set Chemtrade Logistics Income Fund (TSE:CHE.UN) PT at C$19.29

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$19.25.

A number of brokerages have weighed in on CHE.UN. National Bank Financial boosted 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. Raymond James Financial raised Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from C$15.00 to C$21.00 in a report on Tuesday, April 28th. Scotia upped their price objective on Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. BMO Capital Markets raised Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 target price on the stock in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada raised their target price on Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th.

Chemtrade Logistics Income Fund Price Performance

CHE.UN opened at C$16.87 on Thursday. The stock has a market capitalization of C$1.88 billion, a price-to-earnings ratio of 16.38 and a beta of 0.65. The firm has a 50 day moving average price of C$16.11 and a 200-day moving average price of C$15.30. Chemtrade Logistics Income Fund has a twelve month low of C$10.95 and a twelve month high of C$18.43. The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02.

Chemtrade Logistics Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be paid a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Thursday, April 30th. Chemtrade Logistics Income Fund’s dividend payout ratio is 67.72%.

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.