NEW YORK (

TheStreet

) --

Provident Energy

(NYSE:

PVX

) hit a new 52-week high Friday as it is currently trading at $9.40, above its previous 52-week high of $9.38 with 382,766 shares traded as of 11:24 a.m. ET. Average volume has been 1.2 million shares over the past 30 days.

Provident Energy has a market cap of $2.5 billion and is part of the

basic materials

sector and

energy

industry. Shares are up 17% year to date as of the close of trading on Thursday.

Provident Energy Ltd. owns and manages a natural gas liquids midstream services and marketing business. The company involves in the processing, extraction, transportation, loading, storage, and marketing of natural gas liquids in central Canada and the eastern United States. The company has a P/E ratio of 25, above the average energy industry P/E ratio of 24.8 and above the S&P 500 P/E ratio of 17.

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TheStreet Ratings rates Provident Energy as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, increase in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full

Provident Energy Ratings Report

.

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52-week high stocks

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