Capital Clean Energy Carriers (NASDAQ:CCEC) Shares Gap Up After Dividend Announcement

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC) shares gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $19.81, but opened at $21.02. Capital Clean Energy Carriers shares last traded at $20.6750, with a volume of 787 shares traded.

The newly announced dividend which will be paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, May 11th. Capital Clean Energy Carriers’s dividend payout ratio is presently 20.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Zacks Research cut Capital Clean Energy Carriers from a “hold” rating to a “strong sell” rating in a report on Thursday, March 26th. Jefferies Financial Group assumed coverage on Capital Clean Energy Carriers in a report on Friday, April 24th. They set a “hold” rating and a $20.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Capital Clean Energy Carriers in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Capital Clean Energy Carriers Price Performance

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $20.69 and a two-hundred day moving average price of $20.93. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 7.42 and a beta of 0.68.

Hedge Funds Weigh In On Capital Clean Energy Carriers

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its position in shares of Capital Clean Energy Carriers by 2.5% during the fourth quarter. Millennium Management LLC now owns 26,543 shares of the company’s stock worth $547,000 after purchasing an additional 651 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Capital Clean Energy Carriers by 9.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 143,204 shares of the company’s stock worth $3,224,000 after purchasing an additional 12,097 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Capital Clean Energy Carriers during the third quarter worth approximately $382,000. MGO One Seven LLC raised its position in shares of Capital Clean Energy Carriers by 11.8% during the third quarter. MGO One Seven LLC now owns 10,318 shares of the company’s stock worth $232,000 after purchasing an additional 1,087 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Capital Clean Energy Carriers during the second quarter worth approximately $127,000.

Capital Clean Energy Carriers Company Profile

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.