Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 12-Month High – Still a Buy?

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$13.57 and last traded at C$13.56, with a volume of 52234 shares. The stock had previously closed at C$13.52.

Wall Street Analysts Forecast Growth

Several analysts have commented on CHE.UN shares. Scotiabank upgraded shares of Chemtrade Logistics Income Fund from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$13.50 to C$15.00 in a report on Friday, August 15th. Raymond James Financial increased their target price on Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a research report on Monday, August 18th. Finally, Desjardins lifted their price target on Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$15.25.

Chemtrade Logistics Income Fund Trading Up 2.4%

The firm has a market capitalization of C$1.56 billion, a PE ratio of 12.95 and a beta of 1.31. The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. The company’s 50-day simple moving average is C$13.25 and its 200 day simple moving average is C$11.84.

Chemtrade Logistics Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, October 31st. Shareholders of record on Friday, October 31st were paid a $0.0575 dividend. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date was Monday, September 29th. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is 63.08%.

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.