Capital Clean Energy Carriers (NASDAQ:CCEC) Sees Unusually-High Trading Volume After Dividend Announcement

Key Points

• Capital Clean Energy Carriers Corp. announced a dividend of $0.15 per share, which will be paid on November 13th, leading to a significant increase in trading volume.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of $26.00, according to analysts.
• Despite the dividend announcement, the stock price has recently decreased by 1.6%.

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC - Get Free Report) saw unusually-high trading volume on Thursday after the company announced a dividend. Approximately 15,442 shares changed hands during trading, an increase of 12% from the previous session's volume of 13,846 shares.The stock last traded at $21.88 and had previously closed at $22.23.The newly announced dividend which will be paid on Thursday, November 13th. Investors of record on Monday, November 3rd 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 2.7%. The ex-dividend date is Monday, November 3rd. Capital Clean Energy Carriers's dividend payout ratio (DPR) is presently 18.81%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Capital Clean Energy Carriers in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.00.

Capital Clean Energy Carriers Stock Down 1.6%

The company has a current ratio of 1.66, a quick ratio of 1.64 and a debt-to-equity ratio of 1.68. The firm's 50 day simple moving average is $21.75 and its 200-day simple moving average is $21.67. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 6.86 and a beta of 0.56.

Capital Clean Energy Carriers (NASDAQ:CCEC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.11. Capital Clean Energy Carriers had a net margin of 55.58% and a return on equity of 10.70%. The firm had revenue of $104.20 million for the quarter, compared to analyst estimates of $109.11 million. Equities analysts expect that Capital Clean Energy Carriers Corp. will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Capital Clean Energy Carriers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCEC. Exchange Traded Concepts LLC increased its stake in Capital Clean Energy Carriers by 281.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 5,092 shares of the company's stock valued at $98,000 after buying an additional 3,758 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Capital Clean Energy Carriers during the 2nd quarter worth about $127,000. MGO One Seven LLC acquired a new position in shares of Capital Clean Energy Carriers during the 2nd quarter worth about $216,000. Geode Capital Management LLC increased its stake 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 worth $414,000 after purchasing an additional 1,621 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $3,065,000 after purchasing an additional 49,075 shares during the last quarter.

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.

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