Capital Clean Energy Carriers (NASDAQ:CCEC) Sees Large Volume Increase Following Dividend Announcement

Shares of Capital Clean Energy Carriers Corp (NASDAQ:CCEC) saw unusually-high trading volume on Thursday after the company announced a dividend. Approximately 48,582 shares traded hands during trading, an increase of 170% from the previous session’s volume of 18,006 shares.The stock last traded at $18.67 and had previously closed at $18.86.

The newly announced dividend which will be paid on Friday, May 16th. Shareholders of record on Monday, May 12th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Monday, May 12th. Capital Clean Energy Carriers’s dividend payout ratio is currently 23.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CCEC shares. Raymond James assumed coverage on Capital Clean Energy Carriers in a research note on Friday, January 24th. They set an “outperform” rating and a $26.00 price target for the company. Fearnley Fonds lowered shares of Capital Clean Energy Carriers from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 17th.

Capital Clean Energy Carriers Stock Up 7.1 %

The stock has a market capitalization of $1.15 billion, a P/E ratio of 7.71 and a beta of 0.52. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.80 and a quick ratio of 1.78. The stock has a fifty day moving average price of $18.67 and a 200 day moving average price of $18.61.

Capital Clean Energy Carriers (NASDAQ:CCEC) last issued its earnings results on Thursday, February 6th. The company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Capital Clean Energy Carriers had a return on equity of 9.76% and a net margin of 46.85%. On average, research analysts forecast that Capital Clean Energy Carriers Corp will post 1.66 earnings per share for the current year.

Institutional Trading of Capital Clean Energy Carriers

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC bought a new position in Capital Clean Energy Carriers in the 4th quarter valued at $41,000. Exchange Traded Concepts LLC boosted its stake in Capital Clean Energy Carriers by 281.7% during the first quarter. Exchange Traded Concepts LLC now owns 5,092 shares of the company’s stock valued at $98,000 after buying an additional 3,758 shares during the period. Geode Capital Management LLC bought a new position in Capital Clean Energy Carriers in the 3rd quarter worth about $268,000. Finally, LPL Financial LLC raised its holdings in shares of Capital Clean Energy Carriers by 2.7% in the 4th quarter. LPL Financial LLC now owns 50,737 shares of the company’s stock valued at $932,000 after acquiring an additional 1,339 shares in the last quarter.

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.