The Manufacturers Life Insurance Company Boosts Holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE)

The Manufacturers Life Insurance Company grew its position in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 10.5% in the second quarter, Holdings Channel reports. The institutional investor owned 69,853 shares of the utilities provider’s stock after buying an additional 6,637 shares during the period. The Manufacturers Life Insurance Company’s holdings in Clean Energy Fuels were worth $187,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Iridian Asset Management LLC CT acquired a new stake in shares of Clean Energy Fuels in the 1st quarter valued at approximately $392,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Clean Energy Fuels in the first quarter worth $52,000. Vanguard Group Inc. lifted its holdings in Clean Energy Fuels by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock valued at $27,071,000 after acquiring an additional 100,271 shares during the period. Connors Investor Services Inc. boosted its position in shares of Clean Energy Fuels by 5.1% during the 1st quarter. Connors Investor Services Inc. now owns 813,904 shares of the utilities provider’s stock worth $2,181,000 after purchasing an additional 39,186 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Clean Energy Fuels by 20.6% during the 1st quarter. Clearbridge Investments LLC now owns 432,622 shares of the utilities provider’s stock worth $1,159,000 after purchasing an additional 73,800 shares during the period. Institutional investors and hedge funds own 49.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. StockNews.com raised Clean Energy Fuels to a “sell” rating in a research note on Wednesday, August 14th. Scotiabank upped their target price on Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

CLNE stock opened at $2.89 on Friday. The stock’s 50 day simple moving average is $3.01 and its 200 day simple moving average is $2.73. Clean Energy Fuels Corp. has a 12-month low of $2.17 and a 12-month high of $4.13. The firm has a market cap of $645.23 million, a P/E ratio of -8.26 and a beta of 2.12. The company has a current ratio of 3.17, a quick ratio of 2.82 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $97.95 million for the quarter, compared to the consensus estimate of $106.45 million. Clean Energy Fuels had a negative net margin of 19.61% and a negative return on equity of 8.75%. Clean Energy Fuels’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) EPS. As a group, equities research analysts predict that Clean Energy Fuels Corp. will post -0.34 EPS for the current 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.