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Cleco Corp.
Type
Private
Traded as NYSE: CNL
Industry Energy industry
Headquarters Pineville, Louisiana
Services Electricity
Owner Macquarie Infrastructure and Real Assets, British Columbia Investment Management Corporation, John Hancock Financial, and others
Number of employees
1,300 (2009)
Website www.cleco.com

Cleco (formerly the Central Louisiana Electric Company) is an energy services company founded in January 1935 in Pineville in Rapides Parish in Central Louisiana. It operates a regulated electric utility company, Cleco Power, that serves approximately 281,000 customers across Louisiana. Cleco also operates an unregulated wholesale energy business, Cleco Midstream, with approximately 775 megawatts of generating capacity.

Cleco's existing power generation operations utilize a mix of fuels including; western coal, lignite, petroleum coke, and natural gas. Its electricity is transmitted and provided to customers in 23 of Louisiana's 64 parishes.

In 2010, Cleco placed into service its $1 billion new power generation facility Madison Unit 3 north of Alexandria, Louisiana. The new facility will utilize solid fuels including waste refinery coke which is available in Louisiana because of the many refinery operations in the state.

On March 28, 2016, the Louisiana Public Service Commission in a 4-1 vote approved the sale of Cleco for $4.9 billion to a foreign purchasing group led by Macquarie Infrastructure and Real Assets, British Columbia Investment Management Corporation, John Hancock Financial, and other infrastructure investors. Cleco shareholders and area business leaders spoke strongly in support of the purchase. Earlier, the PSC had rejected the sale but soon reversed itself. Clyde C. Holloway, the dissenting commissioner from Rapides Parish, expressed fear for "the long term consequences of Cleco's captive ratepayers. Cleco as we know it has ceased to exist. It is now owned by a private foreign investment company that plans to flip it in eight to ten years. And that same private foreign investment company is financing the deal with a massive amount of debt and ratepayers’ tax money. … I am proud of my 'No' vote and will continue to work hard for those folks who can't walk away."

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2016 2016-08-26 Future report Set alerts
Q1 2016 2016-04-28 Future report Set alerts
Q4 2015 2016-02-26 0.00 0.36
Q3 2015 2015-10-28 0.00 0.90
Q2 2015 2015-07-27 0.00 0.50
Q1 2015 2015-04-28 0.00 0.44
Q4 2014 2015-02-27 0.00 0.35
Q3 2014 2014-10-28 0.00 1.17
Q2 2014 2014-07-30 0.00 0.60
Q1 2014 2014-04-28 0.00 0.43

Ratings

2016-03-29 Upgrade Ladenburg Thalmann Sell to Neutral
2016-02-25 Downgrade Ladenburg Thalmann Neutral to Sell
2014-10-20 Downgrade Wells Fargo & Co. Outperform to Market Perform
2014-10-20 Downgrade Wells Fargo Outperform to Market Perform
2014-06-20 Downgrade KeyBanc Buy to Hold $51.50
2014-04-22 Reiterated Rating KeyBanc Buy $51.50
2014-03-03 Boost Price Target Ladenburg Thalmann $47.00 to $49.00
2013-09-27 Lower Price Target Ladenburg Thalmann Neutral $50.00 to $47.00
2010-05-24 Upgrade KeyBanc Capital Mkts Hold to Buy $30
2009-12-08 Downgrade KeyBanc Capital Mkts Buy to Hold
2009-04-13 Reiterated KeyBanc Capital Mkts Buy $25.50 to $26
2009-03-27 Reiterated KeyBanc Capital Mkts Buy $24 to $25.50
2009-02-27 Reiterated KeyBanc Capital Mkts Buy $25 to $24
2008-08-18 Downgrade Soleil Buy to Hold
2008-03-03 Reiterated Davenport Buy $30 to $28
2007-11-19 Upgrade Davenport Neutral to Buy
2007-11-15 Initiated Wachovia Outperform
2007-10-22 Initiated Davenport Neutral
2007-09-26 Initiated Calyon Securities Buy $32
2007-07-30 Upgrade KeyBanc Capital Mkts / McDonald Hold to Buy $27
2007-03-13 Downgrade Matrix Research Strong Buy to Buy
2007-03-01 Upgrade Goldman Sachs Neutral to Buy
2016-03-29 Upgrade Ladenburg Thalmann Sell to Neutral
2016-02-25 Downgrade Ladenburg Thalmann Neutral to Sell
2014-10-20 Downgrade Wells Fargo & Co. Outperform to Market Perform
2014-10-20 Downgrade Wells Fargo Outperform to Market Perform
2014-06-20 Downgrade KeyBanc Buy to Hold $51.50

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
HALL JEFFREY W Sr Vice President 0.09%  (53114) CNL /
RATCLIFF ROBERT T SR 0.08%  (45298) CNL /
DAVIS R RUSSELL Senior VP 0.06%  (36648) CNL /
GARRETT J PATRICK 0.05%  (33000) CNL /
CARTER STEPHEN M Vice President 0.04%  (22295) CNL /
Mannix Charles Vice President 0.03%  (17311) CNL /

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