Charles Schwab Investment Management Inc. Purchases 15,737 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

Charles Schwab Investment Management Inc. increased its position in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,443,182 shares of the utilities provider’s stock after purchasing an additional 15,737 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of Clean Energy Fuels worth $4,488,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Clean Energy Fuels by 10.5% in the second quarter. The Manufacturers Life Insurance Company now owns 69,853 shares of the utilities provider’s stock valued at $187,000 after buying an additional 6,637 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Clean Energy Fuels by 2.4% during the second quarter. Rhumbline Advisers now owns 292,747 shares of the utilities provider’s stock valued at $782,000 after buying an additional 6,989 shares during the last quarter. Eastern Bank acquired a new position in shares of Clean Energy Fuels during the third quarter valued at about $31,000. DRW Securities LLC acquired a new position in shares of Clean Energy Fuels during the second quarter valued at about $38,000. Finally, Algert Global LLC acquired a new position in shares of Clean Energy Fuels during the second quarter valued at about $45,000. Institutional investors and hedge funds own 49.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CLNE shares. Scotiabank lifted their price objective on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a report on Tuesday, September 3rd. StockNews.com cut shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Clean Energy Fuels currently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Clean Energy Fuels Price Performance

Clean Energy Fuels stock opened at $2.77 on Friday. Clean Energy Fuels Corp. has a fifty-two week low of $2.17 and a fifty-two week high of $4.13. The stock has a market cap of $618.98 million, a PE ratio of -8.94 and a beta of 2.14. The firm’s 50-day simple moving average is $2.89 and its 200 day simple moving average is $2.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The business had revenue of $104.90 million for the quarter, compared to analysts’ expectations of $100.64 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Research analysts predict that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Clean Energy Fuels Profile

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.