McElhenny Sheffield Capital Management LLC Acquires Shares of 150,000 Clean Energy Fuels Corp. $CLNE

Key Points

• McElhenny Sheffield Capital Management LLC acquired 150,000 shares of Clean Energy Fuels Corp., valued at approximately $292,000, indicating growing institutional interest in the company.
• UBS Group raised its price objective for Clean Energy Fuels to $2.75 while Jefferies Financial Group reduced its rating to "hold" with a price target of $2.20, reflecting mixed analyst sentiments.
• Clean Energy Fuels reported a 4.8% increase in revenue from the previous year, totaling $102.61 million, and surpassed earnings expectations for the last quarter.

McElhenny Sheffield Capital Management LLC bought a new position in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 150,000 shares of the utilities provider's stock, valued at approximately $292,000. McElhenny Sheffield Capital Management LLC owned about 0.07% of Clean Energy Fuels as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CLNE. Aigen Investment Management LP bought a new position in Clean Energy Fuels in the 1st quarter valued at about $36,000. Teacher Retirement System of Texas acquired a new position in shares of Clean Energy Fuels in the first quarter valued at approximately $38,000. Byrne Asset Management LLC bought a new position in shares of Clean Energy Fuels during the second quarter worth approximately $42,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Clean Energy Fuels during the 1st quarter worth approximately $51,000. Finally, CWM LLC boosted its stake in Clean Energy Fuels by 820.1% in the 1st quarter. CWM LLC now owns 34,126 shares of the utilities provider's stock valued at $53,000 after purchasing an additional 30,417 shares during the period. Institutional investors and hedge funds own 49.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group reiterated a "buy" rating and set a $2.75 price objective (up previously from $2.00) on shares of Clean Energy Fuels in a research report on Tuesday, August 12th. Jefferies Financial Group lowered 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. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Clean Energy Fuels in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $3.59.

Insider Activity

In related news, SVP Barclay Corbus sold 105,300 shares of Clean Energy Fuels stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $2.63, for a total transaction of $276,939.00. Following the sale, the senior vice president directly owned 1,061,248 shares of the company's stock, valued at approximately $2,791,082.24. The trade was a 9.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.30% of the company's stock.

Clean Energy Fuels Trading Up 0.4%

Shares of CLNE opened at $2.63 on Friday. 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 52-week low of $1.30 and a 52-week high of $3.67. The firm has a market cap of $576.73 million, a price-to-earnings ratio of -2.92 and a beta of 2.70. The business's fifty day moving average is $2.49 and its 200-day moving average is $2.03.

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

Clean Energy Fuels Company 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.

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