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NEW YORK ( TheStreet) -- Progress Energy Incorporated (NYSE: PGN) hit a new 52-week high Thursday as it is currently trading at $56.07, above its previous 52-week high of $56.06 with 360,998 shares traded as of 2:09 p.m. ET. Average volume has been 1.5 million shares over the past 30 days. Progress Energy has a market cap of $16.51 billion and is part of the utilities sector and utilities industry. Shares are up 28.6% year to date as of the close of trading on Wednesday. Progress Energy, Inc., a utility holding company, engages in the generation, transmission, distribution, and sale of electricity in North Carolina, South Carolina, and Florida. It uses coal, oil, hydroelectric, natural gas, and nuclear power to generate electricity. The company has a P/E ratio of 21.1, below the average utilities industry P/E ratio of 21.4 and above the S&P 500 P/E ratio of 17.7.