Con Edison slips after announcing stock offering

Utility Consolidated Edison's ED.N shares down 1.5% to $110.50 post-market after planned equity raise news

New York City-based firm announces 7 mln share offering as part of forward sale agreement with underwriter JP Morgan

Upon agreement's settlement, expected to occur by end of 2026, co to use net proceeds to fund subsidiaries' capital requirements, and its other general purposes

With ~361.2 mln shares outstanding, it has $40.5 bln market cap

ConEd late Thurs posted Q4 profit miss, hurt by higher operating and interest expenses, and said expects to make capital investments of about $6.6 bln in 2026 and $6.8 bln in 2027

ED shares on Mon finished up 2.1% at $112.14. Stock up 13% YTD, outperforming 9% rise in S&P 500 Utilities sector .SPLRCU

Avg rating among 19 analysts is "hold"; median PT $106, according to LSEG data