Clean Energy Fuels (CLNE) Releases Earnings Results, Hits Expectations

Clean Energy Fuels (NASDAQ:CLNE) released its quarterly earnings results on Wednesday. The utilities provider reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05), Morningstar.com reports. The business had revenue of $77.32 million during the quarter, compared to analyst estimates of $85.50 million. Clean Energy Fuels had a negative return on equity of 25.19% and a negative net margin of 35.54%.

CLNE traded up $0.22 during midday trading on Thursday, reaching $2.64. 1,804,100 shares of the company’s stock traded hands, compared to its average volume of 1,500,721. The firm has a market capitalization of $480.17 million, a price-to-earnings ratio of -4.98 and a beta of 1.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.13 and a quick ratio of 1.93. Clean Energy Fuels has a 52 week low of $1.31 and a 52 week high of $4.05.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in Clean Energy Fuels by 27.6% during the 1st quarter. Millennium Management LLC now owns 1,282,388 shares of the utilities provider’s stock valued at $2,116,000 after purchasing an additional 277,147 shares during the last quarter. Price Capital Management Inc. bought a new position in Clean Energy Fuels during the 2nd quarter valued at approximately $756,000. BlackRock Inc. raised its position in Clean Energy Fuels by 5.7% during the 2nd quarter. BlackRock Inc. now owns 8,826,283 shares of the utilities provider’s stock valued at $32,568,000 after purchasing an additional 479,063 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in Clean Energy Fuels during the 2nd quarter valued at approximately $180,000. Finally, MetLife Investment Advisors LLC bought a new position in Clean Energy Fuels during the 2nd quarter valued at approximately $254,000. 25.13% of the stock is owned by institutional investors and hedge funds.

CLNE has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Clean Energy Fuels from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. BidaskClub lowered Clean Energy Fuels from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 18th. Finally, ValuEngine raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd.

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About Clean Energy Fuels

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and provides operation and maintenance services for vehicle fleet customer stations.

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Earnings History for Clean Energy Fuels (NASDAQ:CLNE)

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