Scotiabank Boosts Clean Energy Fuels (NASDAQ:CLNE) Price Target to $6.00

Clean Energy Fuels (NASDAQ:CLNE) had its price target boosted by Scotiabank from $5.00 to $6.00 in a research note published on Tuesday, Benzinga reports. They currently have a sector outperform rating on the utilities provider’s stock.

Separately, StockNews.com raised shares of Clean Energy Fuels to a sell rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $5.38.

Clean Energy Fuels Price Performance

Clean Energy Fuels stock opened at $2.66 on Tuesday. The stock has a market cap of $593.88 million, a price-to-earnings ratio of -7.60 and a beta of 2.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.17 and a quick ratio of 2.82. Clean Energy Fuels has a 1 year low of $2.17 and a 1 year high of $4.93. The firm has a 50-day moving average of $2.78 and a two-hundred day moving average of $2.68.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. The company had revenue of $97.95 million during the quarter, compared to analysts’ expectations of $106.45 million. Clean Energy Fuels had a negative net margin of 19.61% and a negative return on equity of 8.75%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) EPS. On average, research analysts forecast that Clean Energy Fuels will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Clean Energy Fuels

Hedge funds have recently modified their holdings of the business. Brown Advisory Inc. lifted its position in shares of Clean Energy Fuels by 24.3% in the 4th quarter. Brown Advisory Inc. now owns 49,736 shares of the utilities provider’s stock worth $190,000 after purchasing an additional 9,736 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Clean Energy Fuels by 271.6% during the 4th quarter. BNP Paribas Financial Markets now owns 145,256 shares of the utilities provider’s stock worth $556,000 after acquiring an additional 106,162 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Clean Energy Fuels by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,367,278 shares of the utilities provider’s stock worth $5,237,000 after acquiring an additional 19,616 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Clean Energy Fuels by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,314,636 shares of the utilities provider’s stock worth $47,167,000 after acquiring an additional 702,049 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Clean Energy Fuels by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock worth $27,071,000 after acquiring an additional 100,271 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

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.