Cleco Reaches New 52-Week High (CNL)

NEW YORK ( TheStreet) -- Cleco Corporation (NYSE: CNL) hit a new 52-week high Tuesday as it is currently trading at $38.70, above its previous 52-week high of $38.65 with 183,201 shares traded as of 9:50 a.m. ET. Average volume has been 541,000 shares over the past 30 days.

Cleco has a market cap of $2.25 billion and is part of the utilities sector and utilities industry. Shares are down 0.7% year to date as of the close of trading on Monday.

Cleco Corporation operates as a utility holding company in Louisiana. The company, through its subsidiary, Cleco Power, engages in the generation, transmission, distribution, and sale of electricity to approximately 279,000 customers in 108 communities in central and southeastern Louisiana. The company has a P/E ratio of 12.6, above the average utilities industry P/E ratio of 12.2 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cleco as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, revenue growth, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Cleco Ratings Report.

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