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NEW YORK ( TheStreet) -- Cleco Corporation (NYSE: CNL) hit a new 52-week high Wednesday as it is currently trading at $40.18, above its previous 52-week high of $40.17 with 166,394 shares traded as of 10:25 a.m. ET. Average volume has been 464,400 shares over the past 30 days. Cleco has a market cap of $2.41 billion and is part of the utilities sector and utilities industry. Shares are up 5% year to date as of the close of trading on Tuesday. 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 12.3, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.7.