Capital Clean Energy Carriers (NASDAQ:CCEC) Sees Strong Trading Volume on Earnings Beat

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC) saw unusually-high trading volume on Friday following a stronger than expected earnings report. Approximately 9,305 shares traded hands during trading, an increase of 4% from the average daily volume of 8,918 shares. The stock last traded at $21.07 and had previously closed at $19.73.

The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Capital Clean Energy Carriers had a net margin of 27.73% and a return on equity of 6.55%.

Capital Clean Energy Carriers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, November 3rd. Capital Clean Energy Carriers’s dividend payout ratio is 32.26%.

Wall Street Analyst Weigh In

CCEC has been the topic of a number of recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Capital Clean Energy Carriers in a report on Wednesday, July 29th. Zacks Research cut shares of Capital Clean Energy Carriers from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 target price on shares of Capital Clean Energy Carriers in a report on Monday, August 3rd. Finally, Weiss Ratings lowered shares of Capital Clean Energy Carriers from a “buy (b)” rating to a “hold (c)” rating in a research note on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Capital Clean Energy Carriers presently has a consensus rating of “Hold” and an average target price of $24.75.

Capital Clean Energy Carriers Trading Up 6.8%

The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 11.33 and a beta of 0.68. The business’s fifty day moving average is $21.41 and its 200 day moving average is $21.40. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 1.81.

Capital Clean Energy Carriers Company Profile

Capital Clean Energy Carriers Corp. is a maritime transportation company focused primarily on the ownership and operation of vessels that transport liquefied natural gas (LNG) and other energy products. The company’s fleet includes LNG carriers and other vessels serving the international energy supply chain, with operations conducted through long-term and other commercial charter arrangements.

The company is transitioning toward a cleaner-energy-focused shipping platform, with LNG transportation as a central part of its strategy.