HITE Hedge Asset Management LLC Raises Holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE)

HITE Hedge Asset Management LLC boosted its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 26.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 603,533 shares of the utilities provider’s stock after acquiring an additional 127,712 shares during the quarter. HITE Hedge Asset Management LLC owned about 0.27% of Clean Energy Fuels worth $1,877,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Clean Energy Fuels by 10.5% during the second 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 in the last quarter. FMR LLC grew its position in Clean Energy Fuels by 14.8% in the third quarter. FMR LLC now owns 53,546 shares of the utilities provider’s stock valued at $167,000 after purchasing an additional 6,884 shares in the last quarter. Rhumbline Advisers raised 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 worth $782,000 after purchasing an additional 6,989 shares in the last quarter. Eastern Bank acquired a new position in Clean Energy Fuels during the 3rd quarter worth approximately $31,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Clean Energy Fuels by 30.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 44,569 shares of the utilities provider’s stock worth $119,000 after buying an additional 10,437 shares during the period. 49.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CLNE shares. Scotiabank lifted their price target on Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, September 3rd. StockNews.com raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Clean Energy Fuels presently has an average rating of “Buy” and an average target price of $5.38.

Clean Energy Fuels Stock Down 1.9 %

NASDAQ CLNE opened at $3.02 on Tuesday. The stock has a fifty day moving average of $2.93 and a 200-day moving average of $2.84. 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 52 week low of $2.17 and a 52 week high of $4.13.

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 analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $104.90 million during the quarter, compared to analysts’ expectations of $100.64 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. Clean Energy Fuels’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) EPS. Analysts forecast that Clean Energy Fuels Corp. will post -0.33 EPS 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.