Scotiabank Boosts Clean Energy Fuels (NASDAQ:CLNE) Price Target to $6.00

Clean Energy Fuels (NASDAQ:CLNE) had its price target lifted by Scotiabank from $5.00 to $6.00 in a report published on Tuesday, Benzinga reports. Scotiabank currently has a sector outperform rating on the utilities provider’s stock.

Separately, StockNews.com raised shares of Clean Energy Fuels to a sell rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $5.38.

Clean Energy Fuels Trading Down 4.8 %

CLNE opened at $2.75 on Tuesday. Clean Energy Fuels has a 12 month low of $2.17 and a 12 month high of $4.93. The stock has a market capitalization of $613.97 million, a price-to-earnings ratio of -7.86 and a beta of 2.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.17 and a quick ratio of 2.82. The business has a fifty day moving average price of $2.78 and a 200 day moving average price of $2.68.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. Clean Energy Fuels had a negative net margin of 19.61% and a negative return on equity of 8.75%. The company had revenue of $97.95 million for the quarter, compared to analyst estimates of $106.45 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts expect that Clean Energy Fuels will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLNE. Dimensional Fund Advisors LP lifted its stake in Clean Energy Fuels by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,314,636 shares of the utilities provider’s stock valued at $47,167,000 after buying an additional 702,049 shares in the last quarter. Vanguard Group Inc. increased its stake in Clean Energy Fuels by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock valued at $27,071,000 after purchasing an additional 100,271 shares during the last quarter. SIR Capital Management L.P. lifted its position in Clean Energy Fuels by 9.8% during the second quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock worth $7,381,000 after buying an additional 246,600 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Clean Energy Fuels by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,367,278 shares of the utilities provider’s stock valued at $5,237,000 after buying an additional 19,616 shares during the period. Finally, Connors Investor Services Inc. lifted its holdings in shares of Clean Energy Fuels by 5.1% during the 1st quarter. Connors Investor Services Inc. now owns 813,904 shares of the utilities provider’s stock worth $2,181,000 after acquiring an additional 39,186 shares during the period. Institutional investors and hedge funds own 49.94% of the company’s stock.

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.