Capital Clean Energy Carriers (NASDAQ:CCEC) Hits New 12-Month High - Here's Why

Capital Clean Energy Carriers Corp (NASDAQ:CCEC - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.94 and last traded at $23.57, with a volume of 34913 shares changing hands. The stock had previously closed at $23.49.

Analysts Set New Price Targets

Separately, Fearnley Fonds cut shares of Capital Clean Energy Carriers from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 17th.

Capital Clean Energy Carriers Price Performance

The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 9.05 and a beta of 0.30. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 1.82. The company has a 50 day moving average of $19.39 and a 200 day moving average of $18.87.

Capital Clean Energy Carriers (NASDAQ:CCEC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.19. The business had revenue of $109.40 million during the quarter, compared to the consensus estimate of $105.77 million. Capital Clean Energy Carriers had a net margin of 46.85% and a return on equity of 9.76%. Equities research analysts predict that Capital Clean Energy Carriers Corp will post 1.66 EPS for the current fiscal year.

Capital Clean Energy Carriers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Monday, May 12th. Capital Clean Energy Carriers's payout ratio is 18.18%.

Institutional Investors Weigh In On Capital Clean Energy Carriers

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Capital Clean Energy Carriers by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 15,362 shares of the company's stock valued at $281,000 after buying an additional 1,058 shares during the period. Larson Financial Group LLC purchased a new stake in Capital Clean Energy Carriers during the fourth quarter valued at about $41,000. LPL Financial LLC lifted its holdings in Capital Clean Energy Carriers by 2.7% during the fourth quarter. LPL Financial LLC now owns 50,737 shares of the company's stock valued at $932,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Capital Clean Energy Carriers by 281.7% during the first quarter. Exchange Traded Concepts LLC now owns 5,092 shares of the company's stock worth $98,000 after purchasing an additional 3,758 shares during the period.

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.