NEW YORK ( TheStreet) -- CLECO Corporation (NYSE: CNL) hit a new 52-week high Thursday as it is currently trading at $35.78, above its previous 52-week high of $35.68 with 18,244 shares traded as of 10:01 a.m. ET. Average volume has been 387,900 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 15.1% year to date as of the close of trading on Wednesday.

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 15.9, 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 expanding profit margins, reasonable valuation levels 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.

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