Brokerages Set Chemtrade Logistics Income Fund (TSE:CHE.UN) Target Price at C$19.25

Chemtrade Logistics Income Fund (TSE:CHE.UN) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$19.25.

Several research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 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 price objective for the company in a research note on Thursday, April 23rd. Scotia boosted their price objective on shares of Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 14th. National Bank Financial boosted their price objective on shares of Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, Raymond James Financial upgraded shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from C$15.00 to C$21.00 in a research note on Tuesday, April 28th.

Chemtrade Logistics Income Fund Price Performance

Shares of CHE.UN opened at C$16.40 on Monday. The company has a 50 day moving average price of C$16.56 and a 200-day moving average price of C$15.66. Chemtrade Logistics Income Fund has a fifty-two week low of C$10.95 and a fifty-two week high of C$18.43. The stock has a market capitalization of C$1.83 billion, a PE ratio of 15.92 and a beta of 0.83. The company has a debt-to-equity ratio of 128.02, a quick ratio of 0.48 and a current ratio of 0.40.

Chemtrade Logistics Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were paid a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Thursday, April 30th. Chemtrade Logistics Income Fund’s payout ratio is 67.72%.

Chemtrade Logistics Income Fund Company Profile

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.