Cleco Reaches New 52-Week High (CNL)

NEW YORK (TheStreet) -- Cleco Corporation (NYSE:CNL) hit a new 52-week high Friday as it is currently trading at $36.15, above its previous 52-week high of $36.14 with 520,350 shares traded as of 4:02 p.m. ET. Average volume has been 714,700 shares over the past 30 days.

Cleco has a market cap of $2.1 billion and is part of the utilities sector and utilities industry. Shares are up 14.8% year to date as of the close of trading on Thursday.

Cleco Corporation, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Louisiana. The company has a P/E ratio of 12.7, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Cleco as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, solid stock price performance, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Cleco Ratings Report.

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