Capital Clean Energy Carriers (NASDAQ:CCEC) Shares Down 6.8% - Here's What Happened

Key Points

• Shares of Capital Clean Energy Carriers (NASDAQ:CCEC) experienced a 6.8% decline in value, trading at $22.17 as of Tuesday, with a significant drop in trading volume.
• The company reported earnings per share of $0.51, surpassing estimates, but revenue came in lower than expected at $104.2 million against a forecast of $109.11 million.
• Capital Clean Energy Carriers declared a quarterly dividend of $0.15 per share, representing an annual yield of 2.8% and a dividend payout ratio of 18.81%.

Shares of Capital Clean Energy Carriers Corp. (NASDAQ:CCEC - Get Free Report) were down 6.8% on Tuesday . The stock traded as low as $22.41 and last traded at $22.17. Approximately 11,769 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 79,522 shares. The stock had previously closed at $23.79.

Capital Clean Energy Carriers Trading Down 3.5%

The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.64 and a current ratio of 1.66. The stock's fifty day moving average is $23.18 and its 200 day moving average is $20.74. The stock has a market cap of $1.27 billion, a P/E ratio of 6.81 and a beta of 0.53.

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

Capital Clean Energy Carriers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, August 4th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, August 4th. This represents a $0.60 annualized dividend and a dividend yield of 2.8%. Capital Clean Energy Carriers's dividend payout ratio (DPR) is currently 18.81%.

Hedge Funds Weigh In On Capital Clean Energy Carriers

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCEC. LPL Financial LLC grew its stake in shares of Capital Clean Energy Carriers by 2.7% during the fourth quarter. LPL Financial LLC now owns 50,737 shares of the company's stock worth $932,000 after acquiring an additional 1,339 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Capital Clean Energy Carriers by 10.1% during the second quarter. Geode Capital Management LLC now owns 17,702 shares of the company's stock worth $414,000 after acquiring an additional 1,621 shares during the last quarter. MGO One Seven LLC purchased a new stake in shares of Capital Clean Energy Carriers during the second quarter worth about $216,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of 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 acquiring an additional 3,758 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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