Principal Financial Group Inc. Trims Stock Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Principal Financial Group Inc. lessened its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 28.8% during the third quarter, HoldingsChannel reports. The firm owned 11,911 shares of the utilities provider’s stock after selling 4,828 shares during the period. Principal Financial Group Inc.’s holdings in Clean Energy Fuels were worth $37,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SIR Capital Management L.P. lifted its stake in Clean Energy Fuels by 9.8% during the second quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock worth $7,381,000 after purchasing an additional 246,600 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Clean Energy Fuels by 167.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 37,224 shares of the utilities provider’s stock worth $116,000 after buying an additional 23,301 shares in the last quarter. Barclays PLC lifted its position in Clean Energy Fuels by 252.1% in the third quarter. Barclays PLC now owns 266,104 shares of the utilities provider’s stock worth $828,000 after purchasing an additional 190,520 shares during the period. State Street Corp boosted its position in shares of Clean Energy Fuels by 0.5% during the 3rd quarter. State Street Corp now owns 5,923,358 shares of the utilities provider’s stock valued at $18,422,000 after purchasing an additional 31,602 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Clean Energy Fuels by 21.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,841 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 11,534 shares during the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

Shares of NASDAQ:CLNE opened at $3.02 on Wednesday. The business has a fifty day moving average of $2.81 and a 200-day moving average of $2.83. The firm has a market cap of $674.84 million, a PE ratio of -9.74 and a beta of 2.16. 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 twelve month low of $2.17 and a twelve month high of $3.64.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The company had revenue of $104.90 million during the quarter, compared to analysts’ expectations of $100.64 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned ($0.12) EPS. On average, equities research analysts predict that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

About Clean Energy Fuels

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.