JPMorgan Chase & Co. Grows Holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE)

JPMorgan Chase & Co. raised its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 41.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,029,482 shares of the utilities provider's stock after purchasing an additional 299,264 shares during the period. JPMorgan Chase & Co. owned 0.46% of Clean Energy Fuels worth $2,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Moors & Cabot Inc. increased its position in Clean Energy Fuels by 0.9% during the 4th quarter. Moors & Cabot Inc. now owns 413,195 shares of the utilities provider's stock valued at $1,037,000 after buying an additional 3,700 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Clean Energy Fuels by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 516,302 shares of the utilities provider's stock worth $1,296,000 after acquiring an additional 5,485 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Clean Energy Fuels by 3.2% during the fourth quarter. Rhumbline Advisers now owns 279,006 shares of the utilities provider's stock valued at $700,000 after acquiring an additional 8,731 shares in the last quarter. IMC Chicago LLC raised its position in shares of Clean Energy Fuels by 7.4% in the 4th quarter. IMC Chicago LLC now owns 131,122 shares of the utilities provider's stock valued at $329,000 after purchasing an additional 9,021 shares during the last quarter. Finally, Holderness Investments Co. boosted its stake in Clean Energy Fuels by 22.3% in the 4th quarter. Holderness Investments Co. now owns 52,596 shares of the utilities provider's stock worth $132,000 after purchasing an additional 9,600 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company's stock.

Clean Energy Fuels Stock Performance

NASDAQ CLNE traded up $0.04 on Friday, hitting $1.48. 1,232,513 shares of the company's stock traded hands, compared to its average volume of 2,018,825. The firm's 50-day moving average price is $1.76 and its two-hundred day moving average price is $2.52. The firm has a market capitalization of $331.47 million, a PE ratio of -4.77 and a beta of 2.48. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36. Clean Energy Fuels Corp. has a 1-year low of $1.30 and a 1-year high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its earnings results on Monday, February 24th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.04. The company had revenue of $109.33 million during the quarter, compared to the consensus estimate of $102.60 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. During the same period in the previous year, the firm posted $0.01 earnings per share. As a group, analysts expect that Clean Energy Fuels Corp. will post -0.33 EPS for the current year.

Analysts Set New Price Targets

CLNE has been the topic of a number of recent analyst reports. Scotiabank cut their price target on shares of Clean Energy Fuels from $6.00 to $4.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. UBS Group set a $2.00 target price on Clean Energy Fuels and gave the company a "buy" rating in a research report on Sunday, April 13th. Raymond James restated a "strong-buy" rating and issued a $4.00 target price (down previously from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday, February 25th. Finally, StockNews.com downgraded Clean Energy Fuels from a "hold" rating to a "sell" rating in a research note on Wednesday, February 26th.

Insider Transactions at Clean Energy Fuels

In related news, CFO Robert M. Vreeland purchased 15,000 shares of Clean Energy Fuels stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average cost of $1.94 per share, for a total transaction of $29,100.00. Following the completion of the transaction, the chief financial officer now owns 458,800 shares in the company, valued at $890,072. The trade was a 3.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have purchased 35,000 shares of company stock worth $64,100 over the last quarter. 4.30% of the stock is currently owned by insiders.

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.