NEW YORK ( TheStreet) -- Progress Energy (NYSE: PGN) hit a new 52-week high Tuesday as it is currently trading at $56.46, above its previous 52-week high of $56.39 with 604,581 shares traded as of 1:30 p.m. ET. Average volume has been 2.5 million shares over the past 30 days. Progress Energy has a market cap of $16.43 billion and is part of the utilities sector and utilities industry. Shares are down 0.3% year to date as of the close of trading on Monday. Progress Energy, Inc., a utility holding company, engages in the generation, transmission, distribution, and sale of electricity in North Carolina, South Carolina, and Florida. The company has a P/E ratio of 30.8, above the average utilities industry P/E ratio of 30.3 and above the S&P 500 P/E ratio of 17.7.
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