Wednesday, May 9, 2012

T. Boone Pickens' (and Nancy Pelosi's) Clean Energy Fuels Racking Up Expenses (CLNE)

If ever there was a business that should be able to grow without government subsidies it's this one.
Backed by a billionaire, input costs (natural gas) plummeting, favorable consumer economics...
But no, Boone is still pitching the Congress on directing tax dollars his way. The Pelosi connection is below the jump.
Yesterday the stock close at $16.71, down considerably from the late March high of $24.75.
From Barron's Hot Research:
JMP maintains a Market Perform on the natural-gas fueling-station firm.

We maintain our Market Perform rating on Clean Energy Fuels shares following first-quarter results. Adjusted earnings per share of a loss of 16 cents was in line with the consensus estimate of a loss of 17 cents.
In January, Clean Energy (ticker: CLNE) laid out a plan to build 150 new natural-gas fueling stations as part of the effort to form the backbone of America's Natural Gas Highway (ANGH).

According to company management, the project is on track and well underway, which we believe was a key positive in the first quarter.

Clean Energy expects to build a network of stations spanning the country and covering major interstates and to have a total of 70 stations open by the end of 2012. The company is on pace to have the first corridor, the Texas triangle -- Dallas, San Antonio and Houston -- completed by the end of May....
...We have adjusted our 2012 revenue and EPS estimates from $373.1 million and a loss of 39 cents, respectively, to $363.5 million and a loss of 63 cents, respectively. While we have kept our 2013 revenue estimate unchanged at $469.7 million, we are assuming higher costs of sales and SG&A expenses, as Clean Energy expects to continue to invest in fueling infrastructure in 2013.... 

Also at Hot Research:
A Slipup at Murphy Oil
Alpha Natural Feels the Burn 

From our 2009 post "A Bullish Bet on Clean Energy Fuels: Is Nancy Pelosi a Better Derivatives Trader than Hillary Clinton? (CLNE)":
If you recall, the Secretary of State ran a grand to $100,000 in a ten month period, October 1978 to July 1979. Newsweek had the best quote: "This is like buying ice skates one day and entering the Olympics a day later," 'says Mark Powers, editor of the Journal of Futures Markets. "She took some extraordinary risks."

The Speaker on the other hand bought her stake in CLNE on the IPO at $12.00, in May 2007.
The stock traded up twenty cents yesterday but was recently at $11.96, down twelve cents on the day and four pennies below the IPO price.... 
Jim Cramer, Nancy Pelosi and T. Boone Pickens Walk Into a Bar (CLNE)
Nancy Pelosi, Al Gore and T. Boone Pickens Walk Into a Bar (CLNE)
T. Boone Pickens: Greenwashing and Rentseeking (CLNE)
T. Boone Pickens has Wind and Gas (CLNE)