Capital Clean Energy Carriers (NASDAQ:CCEC) Trading Up 1.7% – Here’s What Happened

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CCEC shares. Zacks Research raised shares of Capital Clean Energy Carriers from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings restated 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 target price on shares of Capital Clean Energy Carriers from $20.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.75.

Capital Clean Energy Carriers Stock Performance

The firm has a market cap of $1.30 billion, a PE ratio of 11.77 and a beta of 0.59. The company has a current ratio of 1.39, a quick ratio of 1.38 and a debt-to-equity ratio of 1.53. The firm’s 50 day simple moving average is $20.34 and its 200 day simple moving average is $20.86.

Capital Clean Energy Carriers (NASDAQ:CCEC) last announced its quarterly 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 company had revenue of $98.01 million during the quarter, compared to analysts’ expectations of $103.48 million. Capital Clean Energy Carriers had a return on equity of 6.73% and a net margin of 28.02%. On average, research analysts forecast that Capital Clean Energy Carriers Corp. will post 1.35 EPS for the current fiscal year.

Capital Clean Energy Carriers Dividend Announcement

The business also recently declared 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 was Monday, May 11th. This represents a $0.60 annualized dividend and a yield of 2.7%. Capital Clean Energy Carriers’s payout ratio is presently 31.75%.

Institutional Trading of Capital Clean Energy Carriers

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Capital Clean Energy Carriers in the 2nd quarter worth $127,000. Squarepoint Ops LLC purchased a new stake in shares of Capital Clean Energy Carriers during the 3rd quarter valued at about $382,000. Geode Capital Management LLC raised its position in shares of Capital Clean Energy Carriers by 10.1% during the 2nd quarter. Geode Capital Management LLC now owns 17,702 shares of the company’s stock valued at $414,000 after buying an additional 1,621 shares in the last quarter. Millennium Management LLC raised its position in shares of Capital Clean Energy Carriers by 2.5% during the 4th quarter. Millennium Management LLC now owns 26,543 shares of the company’s stock valued at $547,000 after buying an additional 651 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Capital Clean Energy Carriers by 59.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,107 shares of the company’s stock valued at $3,065,000 after buying an additional 49,075 shares in the last quarter.

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.