Last $55.34 USD
Change Today -0.40 / -0.72%
Volume 1.2M
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As of 8:04 PM 08/1/14 All times are local (Market data is delayed by at least 15 minutes).

cleco corporation (CNL) Snapshot

Open
$55.25
Previous Close
$55.74
Day High
$56.06
Day Low
$55.13
52 Week High
07/1/14 - $59.21
52 Week Low
10/8/13 - $43.69
Market Cap
3.3B
Average Volume 10 Days
662.4K
EPS TTM
$2.53
Shares Outstanding
60.4M
EX-Date
08/1/14
P/E TM
21.9x
Dividend
$1.60
Dividend Yield
2.76%
Current Stock Chart for CLECO CORPORATION (CNL)

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cleco corporation (CNL) Details

Cleco Corporation operates as a public utility holding company primarily in Louisiana. The company, through its subsidiary, Cleco Power LLC, is engaged in the generation, transmission, distribution, and sale of electricity to approximately 284,000 customers in Louisiana through its retail business; and supplies wholesale power in Louisiana and Mississippi. As of December 31, 2013, it had ownership interests in 3 steam electric generating stations, 2 gas turbines, 1 combined cycle unit with a combined nameplate capacity of 2,565 megawatts, and a combined electric net generating capacity of 2,477 megawatts; and 81 active transmission substations and 220 active distribution substations. The company also owned transmission system consisted of approximately 67 circuit miles of 500-Kilovolt (kV) lines; 534 circuit miles of 230-kV lines; 671 circuit miles of 138 kV lines; and 28 circuit miles of 69-kV lines, as well as distribution system consisted of approximately 3,631 circuit miles of 34.5-kV lines and 8,241 circuit miles of other lines. Cleco Corporation, through its other subsidiary, Midstream, also owns and operates a combined-cycle natural gas-fired power plant; and owns a natural gas interconnection system. The company was founded in 1934 and is headquartered in Pineville, Louisiana.

1,205 Employees
Last Reported Date: 02/25/14
Founded in 1934

cleco corporation (CNL) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $735.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $243.1K
President of Cleco Power LLC
Total Annual Compensation: $359.6K
Senior Vice President, Director of Regulatory...
Total Annual Compensation: $280.0K
Senior Vice President of Corporate Services &...
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2013.

cleco corporation (CNL) Key Developments

Cleco Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reaffirms Earnings Guidance for the Full Year 2014

Cleco Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported GAAP earnings applicable to common stock of $36,633,000 or $0.60 per diluted share compared to $42,032,000 or $0.69 per diluted share a year ago. The company reported operating income of $66,721,000 and income before income taxes of $51,161,000 on gross operating revenue of $331,565,000 compared to operating income of $74,754,000 and income before income taxes of $61,464,000 on gross operating revenue of $264,296,000 a year ago. Operational diluted earnings per share (Non-GAAP) were $0.57 compared to $0.62 reported a year ago. Operating revenue, net was $309,070,000 compared to $263,894,000 a year ago. GAAP earnings per diluted share decreased $0.08 compared to the second quarter of 2013, primarily due to $0.04 per share of higher depreciation and amortization expense, $0.03 of higher maintenance expense largely related to the transfer of coughlin to cleco power, and $0.02 per share of higher taxes other than income taxes, partially offset by $0.01 per share for other miscellaneous expenses. For the six months, the company reported GAAP earnings applicable to common stock of $62,557,000 or $1.03 per diluted share compared to $69,166,000 or $1.14 per diluted share a year ago. The company reported operating income was $124,060,000 and income before income taxes of $90,763,000 on gross operating revenue of $616,137,000 compared to operating income of $133,224,000 and income before income taxes of $101,669,000 on gross operating revenue of $505,265,000 reported a year ago. Operational diluted earnings per share (Non-GAAP) were $1.00 compared to $1.06 reported a year ago. Operating revenue, net was $593,456,000 compared to $504,841,000 reported a year ago. The company confirmed its 2014 consolidated operational earnings guidance range of $2.65 to $2.75 per diluted share. Factors that could impact the 2014 earnings guidance range include tax negotiations regarding historical tax items and summer weather. The 2014 earnings guidance is based on normal weather for the year, is generally consistent with the previous rate plan, and excludes adjustments related to life insurance policies and the acadia indemnifications. The effective tax rate assumed in the 2014 guidance is approximately 34%.

Iberdrola Reportedly Emerges as Contender to Buy Cleco

Iberdrola SA (CATS:IBE) has emerged as a contender to buy Cleco Corporation (NYSE:CNL), according to people familiar with the matter. Iberdrola is among a small group of second-round bidders for Cleco. It is unclear which other bidders remain.

Cleco Corporation Declares Quarterly Dividend, Payable on August 15, 2014

Cleco Corporation announced that its board of directors declared a quarterly dividend of $0.40 per share on the company's common stock for the August 15, 2014 payment. Record date is August 5, 2014.

 

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CNL

Industry Average

Valuation CNL Industry Range
Price/Earnings 22.0x
Price/Sales 2.8x
Price/Book 2.1x
Price/Cash Flow 10.9x
TEV/Sales 1.6x
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