Capital Clean Energy Carriers (NASDAQ:CCEC) Shares Up 1.7% – Here’s Why

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC)’s stock price shot up 1.7% during mid-day trading on Thursday . The stock traded as high as $23.09 and last traded at $22.78. 29,425 shares were traded during trading, an increase of 225% from the average session volume of 9,049 shares. The stock had previously closed at $22.41.

Analysts Set New Price Targets

CCEC has been the subject of several research reports. Zacks Research raised Capital Clean Energy Carriers from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Capital Clean Energy Carriers in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group lifted their price objective on Capital Clean Energy Carriers from $20.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.75.

Capital Clean Energy Carriers Price Performance

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 12.05 and a beta of 0.59. The company has a quick ratio of 1.38, a current ratio of 1.39 and a debt-to-equity ratio of 1.53. The company’s fifty day moving average is $20.30 and its two-hundred day moving average is $20.85.

Capital Clean Energy Carriers (NASDAQ:CCEC) last issued its earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.08). The business had revenue of $98.01 million for the quarter, compared to the consensus estimate of $103.48 million. Capital Clean Energy Carriers had a net margin of 28.02% and a return on equity of 6.73%. Equities research analysts anticipate that Capital Clean Energy Carriers Corp. will post 1.35 earnings per share for the current fiscal year.

Capital Clean Energy Carriers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.60 annualized dividend and a yield of 2.6%. Capital Clean Energy Carriers’s dividend payout ratio is presently 31.75%.

Hedge Funds Weigh In On Capital Clean Energy Carriers

Several institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Capital Clean Energy Carriers by 9.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 143,204 shares of the company’s stock valued at $3,224,000 after acquiring an additional 12,097 shares during the last quarter. Millennium Management LLC boosted its stake in Capital Clean Energy Carriers by 2.5% during the 4th quarter. Millennium Management LLC now owns 26,543 shares of the company’s stock worth $547,000 after acquiring an additional 651 shares during the last quarter. Geode Capital Management LLC grew its holdings in Capital Clean Energy Carriers by 10.1% during the second quarter. Geode Capital Management LLC now owns 17,702 shares of the company’s stock valued at $414,000 after purchasing an additional 1,621 shares during the period. Squarepoint Ops LLC bought a new stake in Capital Clean Energy Carriers in the third quarter valued at approximately $382,000. Finally, Raymond James Financial Inc. bought a new stake in Capital Clean Energy Carriers in the second quarter valued at approximately $127,000.

About Capital Clean Energy Carriers

Capital Clean Energy Carriers Corp., a shipping company, provides marine transportation services in Greece. The company’s vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and cargo under short-term voyage charters, and medium to long-term time charters. It owns vessels, including Neo-Panamax container vessels, Panamax container vessels, cape-size bulk carrier, and LNG carriers. In addition, the company produces and distributes oil and natural gas, including biofuels, motor oil, lubricants, petrol, crudes, liquefied natural gas, marine fuels, natural gas liquids, and petrochemicals.