Cleco Corp. Declares Quarterly Dividend of $0.36 (CNL)
Cleco Corp. (NYSE:CNL) announced a quarterly dividend on Thursday, October 24th, ARN reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.3625 per share on Friday, November 15th. This represents a $1.45 annualized dividend and a dividend yield of 3.09%.
On the ratings front, analysts at Ladenburg Thalmann cut their price target on shares of Cleco Corp. from $50.00 to $47.00 in a research note to investors on Friday, September 27th. They now have a “neutral” rating on the stock.
Shares of Cleco Corp. (NYSE:CNL) traded down 0.11% during mid-day trading on Thursday, hitting $46.95. The stock had a trading volume of 155,524 shares. Cleco Corp. has a one year low of $38.46 and a one year high of $50.42. The stock has a 50-day moving average of $46.52 and a 200-day moving average of $46.52. The company has a market cap of $2.838 billion and a price-to-earnings ratio of 18.29.
Cleco Corp. (NYSE:CNL) last announced its earnings results on Wednesday, July 31st. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.04. The company had revenue of $263.90 million for the quarter, compared to the consensus estimate of $249.46 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts expect that Cleco Corp. will post $2.51 EPS for the current fiscal year.
Cleco Corporation (NYSE:CNL) is a public utility holding company which holds investments in several subsidiaries, including Cleco Power LLC and its subsidiaries (Cleco Power) and Cleco Midstream Resources LLC (Midstream), which are its operating business segments.
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