Capital Clean Energy Carriers (NASDAQ:CCEC) Shares Gap Down – Here’s Why

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC) gapped down prior to trading on Friday . The stock had previously closed at $22.81, but opened at $22.29. Capital Clean Energy Carriers shares last traded at $22.29, with a volume of 265 shares trading hands.

Wall Street Analyst Weigh In

CCEC has been the topic of several recent analyst reports. Zacks Research upgraded Capital Clean Energy Carriers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Jefferies Financial Group reissued a “hold” rating and set a $23.00 price target on shares of Capital Clean Energy Carriers in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Capital Clean Energy Carriers to a “hold” rating in a report on Saturday, June 13th. BTIG Research reiterated a “buy” rating and issued a $25.00 price objective on shares of Capital Clean Energy Carriers in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Capital Clean Energy Carriers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $24.75.

Capital Clean Energy Carriers Stock Down 0.2%

The company has a market capitalization of $1.32 billion, a PE ratio of 12.16 and a beta of 0.63. The stock’s fifty day moving average is $22.04 and its two-hundred day moving average is $21.41. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 1.81.

Capital Clean Energy Carriers (NASDAQ:CCEC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The business had revenue of $104.90 million during the quarter, compared to the consensus estimate of $106.10 million. Capital Clean Energy Carriers had a net margin of 27.73% and a return on equity of 6.55%. As a group, analysts predict that Capital Clean Energy Carriers Corp. will post 1.92 EPS for the current year.

Capital Clean Energy Carriers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Tuesday, August 4th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.60 annualized dividend and a dividend yield of 2.7%. Capital Clean Energy Carriers’s dividend payout ratio (DPR) is presently 32.26%.

Hedge Funds Weigh In On Capital Clean Energy Carriers

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Capital Clean Energy Carriers in the second quarter valued at $127,000. Squarepoint Ops LLC purchased a new stake in Capital Clean Energy Carriers in the 3rd quarter worth about $382,000. Geode Capital Management LLC raised its stake in Capital Clean Energy Carriers by 10.1% in the 2nd quarter. Geode Capital Management LLC now owns 17,702 shares of the company’s stock valued at $414,000 after acquiring an additional 1,621 shares during the period. Millennium Management LLC lifted its holdings in Capital Clean Energy Carriers by 2.5% during the fourth quarter. Millennium Management LLC now owns 26,543 shares of the company’s stock valued at $547,000 after purchasing an additional 651 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Capital Clean Energy Carriers by 59.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,107 shares of the company’s stock worth $3,065,000 after purchasing an additional 49,075 shares during the period.

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.