NEW YORK ( TheStreet) -- CLECO Corporation (NYSE: CNL) hit a new 52-week high Friday as it traded at $32.02 compared with its previous 52-Week high of $32. CLECO is changing hands at $32.01 with 305,713 shares traded as of 3:46 p.m. ET. Average volume has been 325,600 shares over the past 30 days. CLECO has a market cap of $1.9 billion and is part of the utilities sector and utilities industry. Shares are up 1.7% 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 7.7, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 22.6. TheStreet Ratings rates CLECO as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full CLECO Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.