Northern Trust Corp Lowers Stake in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Northern Trust Corp trimmed its position in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,623,204 shares of the utilities provider’s stock after selling 124,293 shares during the quarter. Northern Trust Corp owned 0.73% of Clean Energy Fuels worth $4,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Two Sigma Securities LLC acquired a new stake in Clean Energy Fuels during the 4th quarter worth approximately $31,000. Tower Research Capital LLC TRC increased its position in shares of Clean Energy Fuels by 56.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 4,894 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Clean Energy Fuels in the 4th quarter valued at $40,000. Versor Investments LP acquired a new position in shares of Clean Energy Fuels during the 4th quarter valued at $45,000. Finally, Grassi Investment Management boosted its position in Clean Energy Fuels by 74.1% during the 4th quarter. Grassi Investment Management now owns 23,500 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 10,000 shares during the period. 49.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen downgraded Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Wednesday, February 26th. Scotiabank dropped their target price on Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Raymond James restated a “strong-buy” rating and issued a $4.00 price target (down previously from $5.00) on shares of Clean Energy Fuels in a report on Tuesday, February 25th. Lake Street Capital lowered their price objective on shares of Clean Energy Fuels from $22.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, UBS Group set a $2.00 target price on shares of Clean Energy Fuels and gave the stock a “buy” rating in a research report on Sunday, April 13th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.75.

Clean Energy Fuels Stock Up 1.1%

Shares of NASDAQ CLNE opened at $1.86 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. Clean Energy Fuels Corp. has a 1 year low of $1.30 and a 1 year high of $3.67. The stock’s 50-day simple moving average is $1.60 and its 200-day simple moving average is $2.36. The firm has a market cap of $411.03 million, a price-to-earnings ratio of -6.00 and a beta of 2.57.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.21. The company had revenue of $103.76 million for the quarter, compared to the consensus estimate of $96.61 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 for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. As a group, equities analysts anticipate that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert M. Vreeland acquired 15,000 shares of Clean Energy Fuels stock in a transaction on Wednesday, February 26th. The shares were purchased at an average cost of $1.94 per share, for a total transaction of $29,100.00. Following the purchase, the chief financial officer now directly owns 458,800 shares of the company’s stock, valued at $890,072. The trade was a 3.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 35,000 shares of company stock worth $64,100. Insiders own 4.30% of the company’s stock.

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.