Cleco Corporation (CNL) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $50.56 to $52.83 over the past one-month time frame.
The company witnessed one upward revision in the past 30 days. The Zacks Consensus Estimate also moved up over the same time frame, suggesting that more solid trading could be ahead for Cleco. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Cleco Corporation holds a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.
Some better-ranked stocks in the electrical utilities industry include Companhia Paranaense de Energia (ELP), Dynegy Inc. (DYN) and Entergy Corporation (ETR). All these stocks sport a Zacks Rank #1 (Strong Buy).
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