Geode Capital Management LLC Raises Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Geode Capital Management LLC lifted its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,203,217 shares of the utilities provider’s stock after purchasing an additional 126,760 shares during the period. Geode Capital Management LLC owned 1.88% of Clean Energy Fuels worth $13,075,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Clean Energy Fuels by 10.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,853 shares of the utilities provider’s stock worth $187,000 after purchasing an additional 6,637 shares during the last quarter. FMR LLC grew its stake in Clean Energy Fuels by 14.8% in the 3rd quarter. FMR LLC now owns 53,546 shares of the utilities provider’s stock valued at $167,000 after buying an additional 6,884 shares in the last quarter. Rhumbline Advisers grew its stake in Clean Energy Fuels by 2.4% in the 2nd 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 in the last quarter. Eastern Bank purchased a new position in Clean Energy Fuels in the 3rd quarter valued at approximately $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Clean Energy Fuels by 21.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,841 shares of the utilities provider’s stock valued at $205,000 after buying an additional 11,534 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Stock Down 5.0 %

Shares of NASDAQ:CLNE opened at $2.49 on Tuesday. The firm has a fifty day moving average price of $2.82 and a two-hundred day moving average price of $2.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74. Clean Energy Fuels Corp. has a one year low of $2.17 and a one year high of $3.94. The company has a market cap of $556.41 million, a price-to-earnings ratio of -8.03 and a beta of 2.14.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, beating 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 firm had revenue of $104.90 million during the quarter, compared to the consensus estimate of $100.64 million. During the same period last year, the firm earned ($0.12) EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts anticipate that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CLNE. StockNews.com upgraded shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. 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 research note on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $5.38.

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.