Capital Clean Energy Carriers (NASDAQ:CCEC) Sees Strong Trading Volume – Time to Buy?

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC) shares saw unusually-high trading volume on Monday . 21,416 shares changed hands during mid-day trading, an increase of 120% from the previous session’s volume of 9,721 shares.The stock last traded at $22.5010 and had previously closed at $22.39.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BTIG Research reissued a “buy” rating and set a $25.00 price objective on shares of Capital Clean Energy Carriers in a report on Wednesday, July 29th. 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 “hold (c+)” rating in a research report on Monday, June 15th. Zacks Research upgraded Capital Clean Energy Carriers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group lifted their price target on shares of Capital Clean Energy Carriers from $20.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.75.

Capital Clean Energy Carriers Price Performance

The company has a debt-to-equity ratio of 1.53, a current ratio of 1.39 and a quick ratio of 1.38. The stock’s fifty day simple moving average is $21.92 and its 200-day simple moving average is $21.29. The company has a market capitalization of $1.36 billion, a P/E ratio of 12.40 and a beta of 0.63.

Capital Clean Energy Carriers (NASDAQ:CCEC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Capital Clean Energy Carriers had a return on equity of 6.61% and a net margin of 27.73%.The business had revenue of $102.65 million for the quarter, compared to analyst estimates of $106.10 million. On average, equities analysts forecast that Capital Clean Energy Carriers Corp. will post 1.92 earnings per share for the current fiscal year.

Capital Clean Energy Carriers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Tuesday, August 4th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 4th. Capital Clean Energy Carriers’s payout ratio is currently 32.26%.

Institutional Investors Weigh In On Capital Clean Energy Carriers

Several hedge funds have recently modified their holdings of CCEC. Geode Capital Management LLC grew its stake in shares of Capital Clean Energy Carriers by 10.1% in the second 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. raised its stake in Capital Clean Energy Carriers by 59.8% during 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Capital Clean Energy Carriers during the 2nd quarter valued at $127,000. Squarepoint Ops LLC bought a new stake in Capital Clean Energy Carriers in the 3rd quarter valued at $382,000. Finally, Millennium Management LLC boosted its holdings in Capital Clean Energy Carriers by 2.5% in the 4th quarter. Millennium Management LLC now owns 26,543 shares of the company’s stock valued at $547,000 after purchasing an additional 651 shares during the period.

Capital Clean Energy Carriers Company Profile

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.