Capital Clean Energy Carriers (NASDAQ:CCEC) Stock Price Up 5.9% – What’s Next?

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC)’s share price rose 5.9% during trading on Monday . The stock traded as high as $20.89 and last traded at $20.9840. Approximately 3,708 shares changed hands during trading, a decline of 47% from the average daily volume of 6,956 shares. The stock had previously closed at $19.81.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CCEC shares. Jefferies Financial Group started coverage on Capital Clean Energy Carriers in a research report on Friday, April 24th. They issued a “hold” rating and a $20.00 target price for the company. Zacks Research downgraded shares of Capital Clean Energy Carriers from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Capital Clean Energy Carriers in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $24.00.

Capital Clean Energy Carriers Trading Down 2.6%

The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50-day moving average of $20.73 and a 200-day moving average of $20.93. The firm has a market capitalization of $1.24 billion, a P/E ratio of 7.42 and a beta of 0.68.

Capital Clean Energy Carriers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Monday, May 11th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, May 11th. Capital Clean Energy Carriers’s payout ratio is presently 20.91%.

Institutional Investors Weigh In On Capital Clean Energy Carriers

Several institutional investors have recently added to or reduced their stakes in CCEC. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 1,621 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Capital Clean Energy Carriers by 59.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,107 shares of the company’s stock worth $3,065,000 after purchasing an additional 49,075 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Capital Clean Energy Carriers in the second quarter worth about $127,000. MGO One Seven LLC grew its stake in shares of Capital Clean Energy Carriers by 11.8% in the third quarter. MGO One Seven LLC now owns 10,318 shares of the company’s stock worth $232,000 after purchasing an additional 1,087 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Capital Clean Energy Carriers during the 3rd quarter valued at 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.