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Stock To Watch - Consolidated Edison

Shares of energy company, Consolidated Edison, Inc. (ED) closed Monday's trading at $90.19, up 0.28%. The stock has been trading in a range of $73.30 to $94.97 for the past one year.

Last month, the company reached agreements with multiple parties for Consolidated Edison Company of New York, Inc.'s electric and gas delivery businesses, and plans to make new investments in electric and gas delivery infrastructure, new technology, renewable energy, electric vehicle charging stations and energy efficiency programs that will support New York's clean energy goals.

During the month, the company's commitment to providing safe, reliable and clean energy solutions was recognized by PA Consulting with two ReliabilityOne awards. ReliabilityOne awards are the most prestigious honors given to top performers in the electric utility industry who provide reliable services.

There have also been reports recently about institutional investors increasing their positions in Consolidated Edison.

Consolidated Edison expects its full-year adjusted earnings to be in the range of $4.25 to $4.35 per share, while analysts see earnings of $4.32.

In the third quarter ended September 30, 2019, revenue grew to $3.365 billion from $3.328 billion in the same quarter a year ago. Earnings on an adjusted basis were $1.54 per share compared with $1.57 in the corresponding quarter last year. Analysts had an earnings estimate of $1.58 per share.

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