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

Key Points

• CCEC shares gapped down 0.4%, opening at $22.29 versus the previous close of $22.81, though trading volume was very light at 265 shares.
• Analyst sentiment remains favorable, with MarketBeat reporting an average “Buy” rating and a $24.75 average price target; ratings include one Strong Buy, three Buys, and one Hold.
• The company beat quarterly EPS expectations, reporting $0.48 versus the $0.32 consensus estimate, and maintains a quarterly dividend of $0.15, equivalent to a 2.7% annual yield.

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC - Get Free Report) 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 changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CCEC shares. BTIG Research restated a "buy" rating and set a $25.00 target price on shares of Capital Clean Energy Carriers in a report on Wednesday, July 29th. Wall Street Zen raised Capital Clean Energy Carriers to a "hold" rating in a research note on Saturday, June 13th. Weiss Ratings upgraded Capital Clean Energy Carriers from a "hold (c+)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. Jefferies Financial Group restated a "hold" rating and issued a $23.00 target price on shares of Capital Clean Energy Carriers in a report on Monday, August 3rd. Finally, Zacks Research raised shares of Capital Clean Energy Carriers from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $24.75.

Capital Clean Energy Carriers Trading Down 0.4%

The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $1.32 billion, a PE ratio of 12.13 and a beta of 0.63. The stock's fifty day moving average price is $22.02 and its two-hundred day moving average price is $21.40.

Capital Clean Energy Carriers (NASDAQ:CCEC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.16. The company had revenue of $104.90 million for the quarter, compared to the consensus estimate of $106.10 million. Capital Clean Energy Carriers had a return on equity of 6.55% and a net margin of 27.73%. Sell-side analysts anticipate that Capital Clean Energy Carriers Corp. will post 1.92 earnings per share for the current year.

Capital Clean Energy Carriers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Tuesday, August 4th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, August 4th. Capital Clean Energy Carriers's dividend payout ratio (DPR) is currently 32.26%.

Hedge Funds Weigh In On Capital Clean Energy Carriers

A number of hedge funds and other institutional investors have recently made changes to their positions in CCEC. Millennium Management LLC lifted its position in shares of Capital Clean Energy Carriers by 2.5% in the 4th quarter. Millennium Management LLC now owns 26,543 shares of the company's stock worth $547,000 after purchasing an additional 651 shares during the period. Geode Capital Management LLC increased its position 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 valued at $414,000 after buying an additional 1,621 shares during the period. Raymond James Financial Inc. bought a new position in Capital Clean Energy Carriers in the second quarter worth about $127,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Capital Clean Energy Carriers by 9.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 143,204 shares of the company's stock worth $3,224,000 after buying an additional 12,097 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Capital Clean Energy Carriers in the third quarter worth about $382,000.

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.

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