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

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC)’s stock price gapped down before the market opened on Monday. The stock had previously closed at $21.70, but opened at $19.79. Capital Clean Energy Carriers shares last traded at $20.8240, with a volume of 428 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on CCEC. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Capital Clean Energy Carriers in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Capital Clean Energy Carriers from a “hold (c+)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Capital Clean Energy Carriers to a “hold” rating in a report on Saturday, June 13th. 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. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $23.00 price target on shares of Capital Clean Energy Carriers in a report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Capital Clean Energy Carriers currently has an average rating of “Moderate Buy” and a consensus price target of $24.75.

Capital Clean Energy Carriers Stock Performance

The firm has a market capitalization of $1.21 billion, a P/E ratio of 11.13 and a beta of 0.68. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.15 and a quick ratio of 1.13. The firm has a 50-day moving average price of $22.19 and a two-hundred day moving average price of $21.44.

Capital Clean Energy Carriers (NASDAQ:CCEC) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.48 EPS for the quarter, topping the consensus estimate 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 net margin of 27.73% and a return on equity of 6.55%. On average, analysts forecast that Capital Clean Energy Carriers Corp. will post 1.92 EPS for the current fiscal year.

Capital Clean Energy Carriers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Tuesday, August 4th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, August 4th. Capital Clean Energy Carriers’s dividend payout ratio (DPR) is presently 32.26%.

About Capital Clean Energy Carriers

Capital Clean Energy Carriers Corp. (NASDAQ: CCEC) is a maritime transportation company focused on the ownership and operation of vessels that transport energy products. Its fleet is centered on liquefied natural gas (LNG) carriers and other gas carriers, including vessels designed to transport liquefied petroleum gas (LPG) and ammonia. The company provides seaborne transportation services primarily to energy companies, commodity traders and other commercial customers.

The company’s business is supported by a combination of long-term and shorter-term charter arrangements, under which customers use its vessels to move energy cargoes between international markets.