Eastern Bank Invests $31,000 in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Eastern Bank acquired a new position in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the utilities provider’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CLNE. Iridian Asset Management LLC CT acquired a new position in shares of Clean Energy Fuels during the first quarter worth about $392,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Clean Energy Fuels during the first quarter worth about $52,000. Vanguard Group Inc. grew its position in shares of Clean Energy Fuels by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock worth $27,071,000 after buying an additional 100,271 shares in the last quarter. Connors Investor Services Inc. grew its position in shares of Clean Energy Fuels by 5.1% during the first quarter. Connors Investor Services Inc. now owns 813,904 shares of the utilities provider’s stock worth $2,181,000 after buying an additional 39,186 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Clean Energy Fuels by 20.6% during the first quarter. Clearbridge Investments LLC now owns 432,622 shares of the utilities provider’s stock worth $1,159,000 after buying an additional 73,800 shares in the last quarter. 49.94% of the stock is owned by institutional investors and hedge funds.

Clean Energy Fuels Price Performance

Shares of NASDAQ CLNE opened at $2.86 on Friday. 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 Corp. has a twelve month low of $2.17 and a twelve month high of $4.13. The stock has a 50 day moving average of $2.98 and a two-hundred day moving average of $2.74. The stock has a market cap of $638.53 million, a P/E ratio of -8.17 and a beta of 2.12.

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 analysts’ consensus estimates of ($0.04) by $0.05. Clean Energy Fuels had a negative return on equity of 8.75% and a negative net margin of 19.61%. The company had revenue of $97.95 million during the quarter, compared to analysts’ expectations of $106.45 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts forecast that Clean Energy Fuels Corp. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CLNE. StockNews.com upgraded Clean Energy Fuels to a “sell” rating in a research note on Wednesday, August 14th. Scotiabank boosted their target price on Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

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.