Clearbridge Investments LLC Buys 17,000 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

Clearbridge Investments LLC grew its stake in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,822 shares of the utilities provider’s stock after acquiring an additional 17,000 shares during the period. Clearbridge Investments LLC owned 0.16% of Clean Energy Fuels worth $1,374,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in shares of Clean Energy Fuels by 39.2% during the third quarter. Principal Financial Group Inc. now owns 25,084 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 7,065 shares in the last quarter. Versor Investments LP bought a new position in shares of Clean Energy Fuels during the third quarter valued at approximately $157,000. Ascension Capital Advisors Inc. bought a new position in shares of Clean Energy Fuels during the third quarter valued at approximately $111,000. New York State Common Retirement Fund boosted its stake in shares of Clean Energy Fuels by 14.1% during the third quarter. New York State Common Retirement Fund now owns 141,085 shares of the utilities provider’s stock valued at $540,000 after purchasing an additional 17,438 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Clean Energy Fuels by 1.0% during the third quarter. Swiss National Bank now owns 392,058 shares of the utilities provider’s stock valued at $1,502,000 after purchasing an additional 3,800 shares in the last quarter. 49.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CLNE has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a research note on Monday, May 13th. Scotiabank lowered their target price on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 11th. Finally, Raymond James lowered their target price on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.60.

Clean Energy Fuels Trading Up 4.3 %

NASDAQ CLNE opened at $2.69 on Monday. The company has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $3.00. The stock has a market cap of $600.57 million, a P/E ratio of -7.69 and a beta of 2.08. Clean Energy Fuels Corp. has a 12-month low of $2.17 and a 12-month high of $5.25. The company has a current ratio of 3.14, a quick ratio of 2.80 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $106.86 million during the quarter, compared to analysts’ expectations of $106.50 million. Clean Energy Fuels had a negative net margin of 19.98% and a negative return on equity of 11.09%. On average, analysts forecast that Clean Energy Fuels Corp. will post -0.44 earnings per share for the current year.

About Clean Energy Fuels

Clean Energy Fuels Corp. provides natural gas as alternative fuels for vehicle fleets and related fueling solutions in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.