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Capital Clean Energy Carriers Corp.NasdaqGS:CPLP Stok Raporu

Piyasa Değeri US$920.5m
Hisse Fiyatı
n/a
US$20.67
yokiçsel indirim
1Y14.2%
7D2.0%
1D
Portföy Değeri
​
Görünüm

Capital Clean Energy Carriers Corp.

NasdaqGS:CPLP Stok Raporu

Piyasa değeri: US$920.5m

This company listing is no longer active

This company may still be operating, however this listing is no longer active. Find out why through their latest events.

Capital Product Partners (CPLP) Hisse Özeti

A shipping company, provides marine transportation services in Greece. Daha fazla detay

Ödüller

Fiyat-Kazanç oranı ( 9.6 x) US piyasasının ( 18.6 x) altındadır

Gelirin yılda 14.43% oranında artması öngörülüyor

Kazançlar geçen yıl 3.2% oranında arttı

Analistler hisse senedi fiyatının 23.2% oranında artacağı konusunda hemfikir

Risk Analizi

Faiz ödemeleri kazançlarla iyi karşılanmıyor

Hissedarlar geçen yıl önemli ölçüde sulandırıldı

Önümüzdeki 3 yıl boyunca kazançların yılda ortalama 26.3% oranında düşmesi öngörülüyor

3.58% temettüsü serbest nakit akışları tarafından iyi karşılanmıyor

+ 1 daha fazla risk

CPLP Community Fair Values

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Analyst Price Targets

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Capital Product Partners L.P. Rakipler

Fiyat Geçmişi ve Performans

Hisse fiyatlarındaki yükseliş, düşüş ve değişimlerin özeti Capital Product Partners
Tarihsel hisse senedi fiyatları
Güncel Hisse FiyatıUS$16.77
52 Haftanın En Yüksek SeviyesiUS$18.85
52 Haftanın En Düşük SeviyesiUS$12.70
Beta0.87
1 Aylık Değişim2.57%
3 Aylık Değişim-4.06%
1 Yıllık Değişim14.16%
3 Yıllık Değişim34.70%
5 Yıllık Değişim59.26%
Halka arzdan bu yana değişim-91.04%

Son Haberler & Güncellemeler

Recent updates

Seeking Alpha • Jul 08

Capital Product Partners: Still Risky After Recent Dilution And Additional Debt

Summary Capital Product Partners L.P. stock outperformed S&P 500 with 31% total returns since my last coverage, which may indicate that my caution was unwarranted. The company's debt and dilution situation only got worse since then, though, which means caution might still be warranted. While shares are still cheap, they are significantly "less cheap." Investors should probably keep their position size small in CPLP stock. Read the full article on Seeking Alpha
Seeking Alpha • Feb 23

Capital Product Partners: Ambitious Plans And Undermining Risks

Summary Capital Product Partners operates in the LNG carrier and container ship segments and plans to expand its LNG fleet. CPLP has an adequate capital structure with 151% Total Debt/Equity and 62.6% Total Liabilities/Total Assets. The company delivers 72.1% gross profit margin, 68.3% EBITDA margin, and 5.21% ROE. CPLP distributes dividends with a mediocre yield of 3.31%. The market values dearly CPLP plans for fleet expansion; the company trades at 100% P/NAV. There are better opportunities at lower prices and with higher yields. I prefer a pure-play company like CLCO, FLNG, or DLNG to get exposure to LNG. Read the full article on Seeking Alpha
Seeking Alpha • Feb 07

Capital Product Partners: Recent Runup Still Leaves Value On The Table For Investors

Summary Capital Product Partners has experienced a rollercoaster ride in stock price due to increased hostilities in the Red Sea region and rising shipping spot prices. CPLP has closed an agreement to acquire vessels worth $3.1 billion, expanding its asset base and delivering shareholder value. The company operates in the marine transportation sector, handling various cargoes and has made strategic moves to diversify its fleet and enter the LNG transportation sector. Read the full article on Seeking Alpha
Seeking Alpha • Jul 28

Capital Product Partners Q2 2022 Earnings Preview

Capital Product Partners (NASDAQ:CPLP) is scheduled to announce Q2 earnings results on Friday, July 29th, before market open. EPS Estimate is $1.12 (+111.3% Y/Y) and the consensus Revenue Estimate is $72.73M (+82.6% Y/Y). upward revisions and 0 downward. Revenue estimates have seen 2 upward revisions and 1 downward.
Seeking Alpha • Jul 22

Capital Product Partners prices €100M in unsecured bonds offering

Capital Product Partners (NASDAQ:CPLP) wholly owned subsidiary, CPLP Shipping successfully priced its earlier announced offering of €100M of unsecured bonds in Greece. The bonds will mature in 2029 and will have a coupon of 4.40%, payable semi-annually. The company estimates the expenses of the offering to be ~€3.4M. Offer and settlement is expected to occur on July 26, 2022. The trading of the bonds on the Athens Exchange is expected to commence on July 27, 2022. Proceeds will be used to either repay debt or/and to finance the acquisition of new vessels and the remainder of such proceeds, if any, will be used to finance working capital needs.
Seeking Alpha • Jul 05

Capital Product Partners: Higher Distributions Coming, But Higher Risks, Too

Capital Product Partners ended 2021 by acquiring six LNG vessels, which has transformed their partnership. They subsequently increased their distributions by 50% in early 2022 with plans to continue growing them higher in tandem with their earnings. This points to higher distributions coming, especially given the very strong outlook for LNG demand from Europe, but disappointingly, this has also imposed a heavy cost upon their financial position. Their leverage is now in very high territory and appears poised to jump even higher as their net debt grows another circa 50% to acquire a further four LNG vessels. This leaves them particularly vulnerable, which offsets the desirability of their growth, and as a result, I believe that maintaining my hold rating is appropriate. Introduction A little over a year after the Covid-19 pandemic saw Capital Product Partners L.P. (CPLP) reduce their distributions, it seemed that higher distributions could be coming, although these were already risky after acquiring six LNG vessels, as my previous article discussed. Thankfully, management subsequently provided their unitholders with a solid 50% distribution increase, which now sees a moderate yield of 4.03%. Even though their outlook sees higher distributions coming, quite disappointingly, these are accompanied by higher risks too, as discussed within this follow-up analysis that also reviews their subsequently released financial results as well as the implications of the Russia- Ukraine war. Executive Summary & Ratings Since many readers are likely short on time, the table below provides a very brief executive summary and ratings for the primary criteria that were assessed. This Google Document provides a list of all my equivalent ratings as well as more information regarding my rating system. The following section provides a detailed analysis for those readers who are wishing to dig deeper into their situation. Author *Instead of simply assessing distribution coverage through distributable cash flow, I prefer to utilize free cash flow since it provides the toughest criteria and also best captures the true impact upon their financial position. Detailed Analysis Author Following a solid end to 2021 with the fourth quarter seeing operating cash flow of $36.2m, they have enjoyed further strength into the first quarter of 2022 with their operating cash flow climbing higher to $48.4m. Apart from this strong consecutive increase, this also represents a very large improvement of 92.28% year-on-year versus their previous result of $25.2m during the first quarter of 2021, which was not materially impacted by their temporary working capital movements. This is not too surprising considering their now larger fleet includes six new LNG vessels, plus the continued strong operating conditions for container ships that comprise the vast majority of their remaining fleet. Since they abstained from acquiring any new vessels during the first quarter of 2022, their barebones capital expenditure saw almost all of their operating cash flow translated into free cash flow of $47.4m, which provides ample scope to fund unitholder returns. When conducting the previous analysis, management had recently flagged higher distributions were forthcoming and thankfully, they followed through with a 50% increase in early 2022 with prospects to see even higher distributions coming, as per the commentary from management included below. “I think as we complete more dropdowns and we increase our disable cash flow, you should also expect that we'll continue to increase the capital return to unit holders that is through unit buybacks and quarterly distributions.” -Capital Products Partners Q1 2022 Conference Call. It can be seen that management intends to continue scaling their unitholder returns higher as they grow their fleet larger with further dropdowns from their parent company, which phrased another way means further vessel acquisitions. Even though management had no way of knowing back during 2021 when acquiring their new LNG vessels, their outlook is very strong following the subsequent Russian invasion of Ukraine in early 2022, which stands to boost their financial performance, despite the otherwise tragic loss of life. When looking further ahead into the medium to long-term, the outbreak of war in Eastern Europe is creating a surge in demand for LNG vessels as Europe now expedites sourcing their gas supplies from outside of Russia. This geopolitical event is highly uncertain and still evolving but it remains certain that Europe will reduce their vulnerability to Russia from a national security perspective, especially with the latter recently reducing their own gas exports in suspected retaliation to sanctions in support of Ukraine. This even saw the International Energy Agency warning that Europe should brace for Russian gas imports to completely cease, which creates the scary possibility that Europe could run out of gas during the coming Winter or more likely, see them forced to ration supply. Even though they cannot simply flick a switch to completely transition their gas supply away from Russia seamlessly, this pivotal geopolitical moment should nevertheless still create additional LNG demand and thus by extension, additional demand for their LNG vessels for transportation to Europe during the coming years. Whilst this helps make their outlook for continued fleet and distribution growth more desirable, thus far the former has imposed a heavy cost upon their financial position that sees their higher distributions accompanied by higher risks too. Author Their LNG vessels acquisition saw their net debt explode higher following 2021 to $1.289b and thus cross the $1b level for the first time, thereby sitting almost 300% higher year-on-year versus its previous level of $327m at the end of 2020, which was expected when conducting the previous analysis. Unsurprisingly, this transformed their capital structure in a lasting manner, as despite their solid cash flow performance during the first quarter of 2022 that was accompanied by almost no capital expenditure, they still saw their net debt barely move with only a small decrease to $1.245b. When looking ahead, they are planning to double down on building out their fleet by acquiring another four LNG vessels for $597.5m later in 2022, which guarantees their net debt will continue climbing even higher to circa $1.85b and thus quickly push closer towards the $2b level. This represents another increase of almost 50%, which is concerning given where their leverage already resides and sees it far surpassing their market capitalization of only around $292m, thereby ruling out any ability to issue equity to deleverage and leaving them completely reliant upon their internally generated cash inflows. Author Despite their significantly stronger financial performance throughout the first quarter of 2022, it was nowhere near sufficient to offset their dramatically higher net debt and thus as a result, their net debt-to-EBITDA now sits at 5.65, whilst their net debt-to-operating cash flow sits at 7.00. Apart from both now being well above their previous respective results of 3.16 and 4.05 at the end of 2020 before embarking upon the acquisition spree of 2021, they are also both now well above the threshold for the very high territory of 5.01, which confirms my fears when conducting the previous analysis. Since their latest leverage ratios annualize their first quarter of 2022 results, they see full contributions from their new LNG vessels, as per slide six of their fourth quarter of 2021 results presentation. Apart from the usual fluctuations of the inherently volatile broader shipping industry that can see its fortunes turn on a dime, this means that there is not a simple answer to their very high leverage on the horizon. Even though the outlook for their new LNG vessels appears very strong, it should be remembered that more than half of their fleet are containerships, which could see their earnings suffer if the recent fears of a recession come to fruition, thereby offsetting the strength of their new LNG vessels.
Seeking Alpha • Mar 28

Capital Product Partners - Deep Value Opportunity After Transformative Acquisitions

CPLP has completed its initial push into the LNG sector by acquiring six ultra-modern LNG carriers with long-term charters. Management plans to keep expanding the fleet via nine potential dropdowns. The six ultra-modern LNG carriers make the company a large player in the sector, and note that six out of the nine potential dropdowns are LNG carriers as well. The dividend was recently raised by 50%, but the firm is focusing on completing its dropdowns. Share repurchases are very attractive at current pricing, $25.5M remains under authorization. The company continues to trade at a sizable discount to NAV (estimated above $50/unit), and the long-term nature of the company’s charters provide downside protection. CPLP trades at a massive discount to net asset value. Although it has an LP structure and weaker governance, management has so far not acted nefariously and insiders have been buying.
Seeking Alpha • Jan 27

Capital Product Partners Increased Its Distribution By 50% - Expect More To Come

Capital Product Partners just increased its quarterly distribution by 50% (from $0.10 to $0.15 per unit). Expect more increases to come given the transformative $1.2 billion acquisition of 6 LNG carriers (the purchase amount was roughly 4 times higher than the current market cap!). This transaction is a game changer that will materially boost per unit metrics and will eventually help rerate the units. Contracted revenue will increase by 177%, EBITDA will more than double and the average fleet age will decrease 28%. The partnership has an active buyback program, and the sponsor and largest unitholder is investing millions in the open market to boost his stake. The 50% distribution increase represents the first step in Capital Product's plan to return additional value to unitholders.
Seeking Alpha • Aug 15

Capital Product Partners: Positive Momentum Set To Continue

Capital Product Partners has very low debt (Net Debt to Capitalization below 30%) and a plain vanilla capital structure that can be enhanced to fuel growth initiatives. In addition, the partnership has substantial liquidity aided by the sale of 2 containership vessels for almost $200 million, fetching near-record prices. Taking some chips off the table by selling these vessels in the red hot containership market was prudent, as capital can be recycled in better ways. There are many dropdown candidates, all chartered out to world-class counterparties (BP, Cheniere, etc.) with an average charter duration significantly higher than the 3.9 years remaining on the existing fleet. This provides a great opportunity to reactivate a new growth cycle for the partnership that relies on a healthy model based on retained internally generated cash flow versus the old MLP model which relied on high payouts and constant equity raises.

Hissedar Getirileri

CPLPUS ShippingUS Pazar
7D2.0%-1.0%1.0%
1Y14.2%47.5%28.7%

Getiri vs. Endüstri: CPLP geçen yıl % 47.5 oranında getiri sağlayan US Shipping sektörünün gerisinde kaldı.

Getiri vs Piyasa: CPLP geçen yıl % 28.7 oranında getiri sağlayan US Piyasasının altında performans gösterdi.

Fiyat Oynaklığı

Is CPLP's price volatile compared to industry and market?
CPLP volatility
CPLP Average Weekly Movement4.6%
Shipping Industry Average Movement6.4%
Market Average Movement7.2%
10% most volatile stocks in US Market16.4%
10% least volatile stocks in US Market3.1%

İstikrarlı Hisse Senedi Fiyatı: CPLP son 3 ayda US piyasasına kıyasla önemli bir fiyat oynaklığı yaşamadı.

Zaman İçindeki Volatilite: CPLP 'nin haftalık oynaklığı ( 5% ) son bir yıldır istikrarlı seyretti.

Şirket Hakkında

KurulduÇalışanlarCEOWeb sitesi
2007n/aJerry Kalogiratoswww.capitalcleanenergycarriers.com

Capital Product Partners L.P. Temel Bilgiler Özeti

Capital Product Partners'un kazançları ve gelirleri piyasa değeriyle nasıl karşılaştırılır?
CPLP temel i̇stati̇sti̇kler
Piyasa değeriUS$920.46m
Kazançlar(TTM)US$96.23m
Gelir(TTM)US$393.20m
9.6x
F/K Oranı
2.3x
P/S Oranı

CPLP aşırı değerli mi?

Gerçeğe Uygun Değer ve değerleme analizine bakınız

Kazanç ve Gelir

En son kazanç raporundan temel karlılık istatistikleri (TTM)
CPLP gelir tablosu (TTM)
GelirUS$393.20m
Gelir MaliyetiUS$98.94m
Brüt KârUS$294.26m
Diğer GiderlerUS$198.03m
KazançlarUS$96.23m

Son Raporlanan Kazançlar

Jun 30, 2024

Sonraki Kazanç Tarihi

n/a

Hisse başına kazanç (EPS)1.75
Brüt Marj74.84%
Net Kâr Marjı24.47%
Borç/Özkaynak Oranı209.6%

CPLP uzun vadede nasıl bir performans gösterdi?

Geçmiş performansı ve karşılaştırmayı görün

Temettüler

3.6%
Mevcut Temettü Verimi
24%
Ödeme Oranı

Şirket Analizi ve Finansal Veri Durumu

VeriSon Güncelleme (UTC saati)
Şirket Analizi2024/08/26 17:53
Gün Sonu Hisse Fiyatı2024/08/26 00:00
Kazançlar2024/06/30
Yıllık Kazançlar2023/12/31

Veri Kaynakları

Şirket analizimizde kullanılan veriler S&P Global Market Intelligence LLC'den alınmıştır. Bu raporu oluşturmak için analiz modelimizde aşağıdaki veriler kullanılmıştır. Veriler normalize edilmiştir, bu da kaynağın mevcut olmasından kaynaklanan bir gecikmeye neden olabilir.

PaketVeriZaman ÇerçevesiÖrnek ABD Kaynağı *
Şirket Finansalları10 yıl
  • Gelir tablosu
  • Nakit akış tablosu
  • Bilanço
Analist Konsensüs Tahminleri+3 yıl
  • Finansal tahminler
  • Analist fiyat hedefleri
Piyasa Fiyatları30 yıl
  • Hisse senedi fiyatları
  • Temettüler, Bölünmeler ve Eylemler
Sahiplik10 yıl
  • En büyük hissedarlar
  • İçeriden öğrenenlerin ticareti
Yönetim10 yıl
  • Liderlik ekibi
  • Yönetim Kurulu
Önemli Gelişmeler10 yıl
  • Şirket duyuruları

* ABD menkul kıymetleri için örnek, ABD dışı için eşdeğer düzenleyici formlar ve kaynaklar kullanılmıştır.

Belirtilmediği sürece tüm finansal veriler yıllık bir döneme dayanmaktadır ancak üç ayda bir güncellenmektedir. Bu, İzleyen On İki Ay (TTM) veya Son On İki Ay (LTM) Verileri olarak bilinir. Daha fazla bilgi edinin.

Analiz Modeli ve Kar Tanesi

Bu raporu oluşturmak için kullanılan analiz modelinin ayrıntılarına GitHub sayfamızdan ulaşabilirsiniz, ayrıca raporlarımızı nasıl kullanacağınızı anlatan kılavuzlarımız ve Youtube'da eğitim videolarımız da bulunmaktadır.

Simply Wall St analiz modelini tasarlayan ve oluşturan dünya standartlarındaki ekip hakkında bilgi edinin.

Endüstri ve Sektör Metrikleri

Sektör ve bölüm metriklerimiz Simply Wall St tarafından her 6 saatte bir hesaplanmaktadır, sürecimizin ayrıntıları Github'da mevcuttur.

Analist Kaynakları

Capital Clean Energy Carriers Corp. 16 Bu analistlerden 3, raporumuzun girdisi olarak kullanılan gelir veya kazanç tahminlerini sunmuştur. Analistlerin gönderimleri gün boyunca güncellenmektedir.

AnalistKurum
Kenneth HoexterBofA Global Research
Michael GyureBrean Capital Historical (Janney Montgomery)
Liam BurkeB. Riley Securities, Inc.