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

Shares of Capital Clean Energy Carriers Corp. (NASDAQ:CCEC) gapped down before the market opened 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 traded.

Analysts Set New Price Targets

A number of research firms have recently commented on CCEC. BTIG Research restated a “buy” rating and issued a $25.00 target price on shares of Capital Clean Energy Carriers in a research note on Wednesday, July 29th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price target on shares of Capital Clean Energy Carriers in a research note on Monday, August 3rd. Wall Street Zen upgraded Capital Clean Energy Carriers to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings raised Capital Clean Energy Carriers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Finally, Zacks Research raised Capital Clean Energy Carriers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $24.75.

Capital Clean Energy Carriers Trading Down 0.4%

The firm has a market cap of $1.32 billion, a PE ratio of 12.13 and a beta of 0.63. 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 stock’s fifty day simple moving average is $22.02 and its two-hundred day simple moving average is $21.40.

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

Capital Clean Energy Carriers Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in Capital Clean Energy Carriers by 2.5% in the fourth quarter. Millennium Management LLC now owns 26,543 shares of the company’s stock worth $547,000 after acquiring an additional 651 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 acquiring an additional 1,621 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Capital Clean Energy Carriers during the second quarter valued at $127,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Capital Clean Energy Carriers by 9.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 143,204 shares of the company’s stock valued at $3,224,000 after acquiring an additional 12,097 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Capital Clean Energy Carriers in the 3rd 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.