Con Edison dips on about $640 mln stock sale

Consolidated Edison's ED.N shares down 1.6% to $100.49 in post-market trading after equity raise news

New York utility says agrees to issue 6.3 mln shares in public offering with Barclays as underwriter

Based on stock's last close of $102.15, offering size equates to ~$643.5 mln

Co plans to use net offering proceeds to fund capital requirements, other general purposes

With 346.77 mln shares outstanding as of Feb 28, per the SEC prospectus filing, co has ~$35.4 bln market cap

Shares, which closed down 1.8% on Tues amid broader market selloff, are up 14.5% YTD and well outperforming 2.5% gain in S&P 500 Utilities sector .SPLRCU

S&P 500 .SPX is down 1.8% YTD as trade wars weigh .N