Chemtrade Logistics Income Fund (TSE:CHE.UN) Price Target Raised to C$13.25

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its price objective upped by Desjardins from C$13.00 to C$13.25 in a research report sent to investors on Friday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also issued reports on CHE.UN. Royal Bank of Canada increased their target price on Chemtrade Logistics Income Fund from C$11.00 to C$12.00 and gave the company an outperform rating in a research report on Friday, May 17th. National Bankshares upped 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Chemtrade Logistics Income Fund has an average rating of Moderate Buy and an average target price of C$12.55.

Chemtrade Logistics Income Fund Stock Performance

TSE CHE.UN opened at C$10.03 on Friday. The stock has a market capitalization of C$1.18 billion, a price-to-earnings ratio of 6.92 and a beta of 1.49. The stock has a 50-day moving average of C$9.33 and a 200 day moving average of C$8.87. The company has a current ratio of 0.42, a quick ratio of 0.48 and a debt-to-equity ratio of 128.22. Chemtrade Logistics Income Fund has a twelve month low of C$7.60 and a twelve month high of C$10.11.

Chemtrade Logistics Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 30th will be given a dividend of $0.055 per share. This represents a $0.66 annualized dividend and a dividend yield of 6.58%. The ex-dividend date is Wednesday, July 31st. Chemtrade Logistics Income Fund’s payout ratio is 45.52%.

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.