NEW YORK ( TheStreet) -- The ex-dividend date for CLECO Corporation (NYSE: CNL) is tomorrow, May 5, 2011. Owners of shares as of market close today will be eligible for a dividend of 28 cents per share. At a price of $35.40 as of 9:31 a.m. ET, the dividend yield is 3.2%.

The average volume for CLECO has been 431,400 shares per day 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 15.2% year to date as of the close of trading on Tuesday.

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 8.4, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.
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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, solid stock price performance, compelling growth in net income and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full CLECO Ratings Report.

See our dividend calendar or top-yielding stocks list.
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