Clean Energy Fuels Corp. $CLNE Stake Decreased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Clean Energy Fuels Corp. by 9.8%, now owning 1,312,273 shares worth approximately $2,034,000.
• Clean Energy Fuels has seen mixed analyst ratings, with Jefferies downgrading from "buy" to "hold," while UBS raised its price target from $2.00 to $2.75.
• In its latest earnings report, Clean Energy Fuels beat estimates with a revenue of $102.61 million, up 4.8% year-over-year, and an EPS of ($0.01), compared to analyst expectations of ($0.07).

Charles Schwab Investment Management Inc. cut its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 9.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,312,273 shares of the utilities provider's stock after selling 143,078 shares during the period. Charles Schwab Investment Management Inc. owned about 0.59% of Clean Energy Fuels worth $2,034,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Clean Energy Fuels by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,498,040 shares of the utilities provider's stock valued at $23,840,000 after acquiring an additional 124,031 shares in the last quarter. SIR Capital Management L.P. grew its stake in shares of Clean Energy Fuels by 7.3% during the fourth quarter. SIR Capital Management L.P. now owns 2,520,941 shares of the utilities provider's stock valued at $6,328,000 after acquiring an additional 171,018 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Clean Energy Fuels by 56.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,241,708 shares of the utilities provider's stock valued at $3,117,000 after acquiring an additional 450,143 shares in the last quarter. Millennium Management LLC grew its stake in shares of Clean Energy Fuels by 41.2% during the fourth quarter. Millennium Management LLC now owns 1,149,914 shares of the utilities provider's stock valued at $2,886,000 after acquiring an additional 335,694 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Clean Energy Fuels during the first quarter worth about $1,113,000. 49.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLNE has been the topic of several research analyst reports. Jefferies Financial Group cut shares of Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 price target on the stock. in a research report on Friday, August 8th. UBS Group reaffirmed a "buy" rating and set a $2.75 price target (up previously from $2.00) on shares of Clean Energy Fuels in a research report on Tuesday, August 12th. Finally, Lake Street Capital reduced their price target on shares of Clean Energy Fuels from $22.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $3.59.

Clean Energy Fuels Stock Performance

Shares of CLNE traded up $0.04 during mid-day trading on Thursday, reaching $2.54. 247,339 shares of the company's stock traded hands, compared to its average volume of 2,609,784. The business's 50-day moving average price is $2.22 and its 200-day moving average price is $1.94. The stock has a market capitalization of $555.90 million, a P/E ratio of -2.82 and a beta of 2.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.51 and a current ratio of 2.83. Clean Energy Fuels Corp. has a 12 month low of $1.30 and a 12 month high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.06. The company had revenue of $102.61 million for the quarter, compared to analysts' expectations of $94.73 million. Clean Energy Fuels had a negative return on equity of 27.98% and a negative net margin of 48.40%.The business's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. Equities analysts predict that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current 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.