Duke Energy Corp.’s strong third quarter results allowed the company to raise its midpoint range for 2019 adjusted earnings guidance to $4.95 to $5.15 per share.

The company announced that its third quarter adjusted earnings were $1.79 per share, beating Bloomberg consensus estimates of $1.68 per share in a press release on Friday. Its adjusted earnings per share grew by 7 percent year to date. The company’s total earnings for the quarter were $1.31 billion beating estimates of $1.23 billion.

The company’s higher third quarter 2019 adjusted results were primarily driven by growth from investments at electric and gas utilities, favorable weather and lower O&M expenses.

“We’ve outlined a more aggressive climate strategy, advanced important energy infrastructure projects that will enable us to provide more value for our customers and communities and reached constructive regulatory settlements with key stakeholders,” said CEO Lynn Good.

The company’s revenue for the quarter rose 4.7 percent to $6.94 billion from $6.63 billion last year.

In the press release, Duke reaffirmed its long-term earnings growth target of 4 percent to 6 percent through 2023.

Duke is an energy company located primarily in the Americas. Its stock closed at $89.95 on Friday, down $2.63 per share.