Capital Clean Energy Carriers (NASDAQ:CCEC) Trading Down 4.2% - Here's Why

Key Points

• Capital Clean Energy Carriers (NASDAQ:CCEC) shares fell by 4.2% to $21.74, marking a significant decline in trading volume, down 82% from the average.
• The company reported earnings of $0.51 per share, exceeding estimates, but revenue of $104.20 million fell short of expectations of $109.11 million.
• Analysts maintain a consensus rating of "Moderate Buy" with a price target of $26.00, while the company recently declared a quarterly dividend of $0.15 per share, yielding 2.8% annually.

Shares of Capital Clean Energy Carriers Corp. (NASDAQ:CCEC - Get Free Report) traded down 4.2% on Thursday . The stock traded as low as $21.80 and last traded at $21.74. 2,315 shares were traded during mid-day trading, a decline of 82% from the average session volume of 12,576 shares. The stock had previously closed at $22.70.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b+)" rating on shares of Capital Clean Energy Carriers in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

Capital Clean Energy Carriers Stock Down 3.0%

The company's 50 day moving average is $21.84 and its 200 day moving average is $21.50. The company has a market cap of $1.26 billion, a PE ratio of 6.74 and a beta of 0.56. The company has a current ratio of 1.66, a quick ratio of 1.64 and a debt-to-equity ratio of 1.68.

Capital Clean Energy Carriers (NASDAQ:CCEC - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $104.20 million for the quarter, compared to the consensus estimate of $109.11 million. As a group, analysts predict that Capital Clean Energy Carriers Corp. will post 1.66 earnings per share for the current fiscal year.

Capital Clean Energy Carriers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, August 4th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $0.60 dividend on an annualized basis and a yield of 2.8%. Capital Clean Energy Carriers's payout ratio is 18.81%.

Hedge Funds Weigh In On Capital Clean Energy Carriers

Several institutional investors have recently made changes to their positions in CCEC. Raymond James Financial Inc. purchased a new stake in Capital Clean Energy Carriers in the second quarter worth about $127,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Capital Clean Energy Carriers by 59.8% in 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 purchasing an additional 49,075 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Capital Clean Energy Carriers by 10.1% in 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 period. MGO One Seven LLC bought a new position in shares of Capital Clean Energy Carriers during the second quarter valued at approximately $216,000. Finally, Exchange Traded Concepts LLC boosted 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 valued at $98,000 after purchasing an additional 3,758 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.

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