Consolidated Edison Launches $2B ATM Equity Offering Program
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy ED?
Consolidated Edison announced a $2B at-the-market, or ATM, equity offering program pursuant to which it may sell its common shares. Con Edison has entered into an Equity Distribution Agreement with Barclays Capital, BNY Mellon Capital Markets, BofA Securities, CIBC Capital Markets, Jefferies, J.P. Morgan Securities, KeyBanc Capital Markets, Mizuho Securities USA, Scotia Capital, TD Securities and Wells Fargo Securities, each in its capacity as agent for Con Edison and Barclays Bank, The Bank of New York Mellon, Bank of America, Canadian Imperial Bank of Commerce, Jefferies, JPMorgan Chase Bank, KeyBanc Capital Markets, Mizuho Markets Americas, The Bank of Nova Scotia, The Toronto-Dominion Bank and Wells Fargo Bank, National Association or their respective affiliates, each in its capacity as forward purchaser. Con Edison currently intends to use any proceeds that it receives upon the issuance and sale of its common shares by it to or through the sales agents to invest in its subsidiaries for funding of their capital requirements and for its other general corporate purposes.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ED?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on ED
Wall Street analysts forecast ED stock price to fall
10 Analyst Rating
1 Buy
4 Hold
5 Sell
Moderate Sell
Current: 106.390
Low
86.00
Averages
102.00
High
118.00
Current: 106.390
Low
86.00
Averages
102.00
High
118.00
About ED
Consolidated Edison, Inc. is a holding company. The Company, through its subsidiaries, Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R) and Con Edison Transmission, Inc., provides a range of energy-related products and services to its customers. CECONY is a regulated utility providing electric service in New York City and New York’s Westchester County, gas service in Manhattan, the Bronx, parts of Queens and parts of Westchester, and steam service in Manhattan. O&R, along with its electric utility subsidiary, Rockland Electric Company, provides electric service in southeastern New York and northern New Jersey and gas service in southeastern New York. O&R delivers gas to customers in southeastern New York. Con Edison Transmission, Inc. falls primarily under the oversight of the Federal Energy Regulatory Commission, which develops and invests in electric transmission projects and owns, through joint ventures, both electric and gas assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Con Edison Launches $2 Billion ATM Equity Offering Program
- Equity Offering Program: Con Edison has announced a $2 billion ATM equity offering program aimed at raising funds through the sale of common shares to support its subsidiaries' capital needs and other general corporate purposes.
- Sales Agent Collaboration: The company has entered into an Equity Distribution Agreement with multiple financial institutions, including Barclays Capital and J.P. Morgan, ensuring flexibility and efficiency in stock sales through negotiated transactions and market offerings.
- Clear Use of Proceeds: Con Edison intends to use the cash proceeds from the sale of common shares to invest in its subsidiaries, addressing capital requirements and supporting overall operations, demonstrating its commitment to future growth.
- Compliance and Transparency: The offering is made in accordance with an effective registration statement filed with the SEC, with related prospectuses available on the SEC's website, ensuring that investors have access to necessary information for informed investment decisions.
See More
Con Edison Launches $2 Billion ATM Equity Offering Program
- Equity Offering Program: Con Edison has announced a $2 billion ATM equity offering program aimed at flexibly selling its common shares through partnerships with various financial institutions to meet capital needs.
- Sales Agent Collaboration: The company has entered into an Equity Distribution Agreement with multiple financial institutions, including Barclays Capital and J.P. Morgan, expecting to conduct stock sales through market transactions and block trades to optimize liquidity.
- Clear Use of Proceeds: Con Edison intends to use the funds raised from this offering for its subsidiaries' capital requirements and other general corporate purposes, demonstrating a proactive approach to future investments.
- Compliance and Transparency: The offering is being conducted in accordance with an effective registration statement filed with the SEC, ensuring that investors can access relevant prospectuses and supplements, thereby enhancing market confidence.
See More
Con Edison Reports Q1 2026 Net Income Growth
- Net Income Growth: Con Edison reported a net income of $924 million for Q1 2026, translating to $2.55 per share, up from $791 million and $2.26 per share in Q1 2025, indicating enhanced profitability and stability in a crucial economic market.
- Stable Adjusted Earnings: The adjusted earnings for Q1 2026 stood at $790 million or $2.18 per share, slightly down from $792 million or $2.26 per share in 2025, primarily due to transaction costs related to the strategic alternatives review, reflecting the company's cautious approach to market fluctuations.
- Investment Plan Reaffirmation: The company reaffirmed its adjusted EPS guidance for 2026 in the range of $6.00 to $6.20, emphasizing ongoing efforts in infrastructure investment and system resilience to meet growing energy demands, ensuring long-term value creation.
- Stock Sale Proceeds: In the first quarter, Con Edison successfully settled a forward sale agreement for 7 million shares, generating proceeds of $357.5 million to support investments in its energy systems, further solidifying its market position.
See More
Con Edison Reports Q1 2026 Net Income Growth
- Net Income Growth: Con Edison reported a net income of $924 million for Q1 2026, translating to $2.55 per share, up from $791 million and $2.26 per share in Q1 2025, indicating enhanced profitability and reflecting the company's stability and growth potential in the energy market.
- Adjusted Earnings Performance: The adjusted earnings for Q1 2026 were $790 million or $2.18 per share, slightly down from $792 million and $2.26 per share in 2025, primarily due to transaction costs associated with the strategic alternatives review, highlighting ongoing efforts to optimize the investment portfolio.
- Infrastructure Investment: The company is proactively investing to meet the rapid growth in electrification and transportation demand by building new substations and enhancing system resilience against extreme weather, which not only improves service reliability but also lays the groundwork for future market expansion.
- Future Outlook: Con Edison reaffirmed its adjusted EPS guidance range for 2026 at $6.00 to $6.20, demonstrating confidence in future performance, while raising $357.5 million through a forward sale agreement for 7 million shares to support investments in its energy systems.
See More
Analysis of Upcoming U.S. Jobs Report Outlook
- Job Market Expectations: According to FactSet consensus estimates, the U.S. is expected to add only 50,000 jobs in April, significantly lower than March's 178,000, indicating signs of economic slowdown that could impact investor confidence.
- Unemployment Rate Stability: The unemployment rate is anticipated to remain steady at 4.3%, suggesting that despite the decrease in job additions, the labor market remains relatively stable, potentially alleviating fears of an economic downturn.
- GDP Growth Situation: The U.S. GDP grew at a seasonally adjusted annualized rate of 2% in the first quarter, higher than the fourth quarter's 0.5% but below the 2.2% estimate, reflecting economic sluggishness that may influence future monetary policy decisions.
- Market Volatility: Despite a strong performance in April, with the S&P 500 and Nasdaq hitting record highs, investors should remain cautious of the upcoming
See More
Consolidated Edison Declares Quarterly Dividend of $0.8875
- Quarterly Dividend Announcement: Consolidated Edison has declared a quarterly dividend of $0.8875 per share, consistent with previous distributions, demonstrating the company's ongoing ability to maintain stable cash flows, which is likely to attract income-seeking investors.
- Dividend Yield: The forward yield of 3.21% reflects the company's appeal in the current market environment, potentially increasing investor interest in its stock, especially amid rising interest rates.
- Shareholder Record Date: The dividend will be payable on June 15, with a record date of May 13 and an ex-dividend date also on May 13, providing investors with a clear timeline for their investment decisions.
- Consistent Dividend Policy: The company has announced the same dividend for two consecutive quarters, indicating consistency in financial management and a commitment to shareholder returns, which may bolster market confidence in its future profitability.
See More
Con Edison Launches $2 Billion ATM Equity Offering Program
- Equity Offering Program: Con Edison has announced a $2 billion ATM equity offering program aimed at raising funds through the sale of common shares to support its subsidiaries' capital needs and other general corporate purposes.
- Sales Agent Collaboration: The company has entered into an Equity Distribution Agreement with multiple financial institutions, including Barclays Capital and J.P. Morgan, ensuring flexibility and efficiency in stock sales through negotiated transactions and market offerings.
- Clear Use of Proceeds: Con Edison intends to use the cash proceeds from the sale of common shares to invest in its subsidiaries, addressing capital requirements and supporting overall operations, demonstrating its commitment to future growth.
- Compliance and Transparency: The offering is made in accordance with an effective registration statement filed with the SEC, with related prospectuses available on the SEC's website, ensuring that investors have access to necessary information for informed investment decisions.
See More
Con Edison Launches $2 Billion ATM Equity Offering Program
- Equity Offering Program: Con Edison has announced a $2 billion ATM equity offering program aimed at flexibly selling its common shares through partnerships with various financial institutions to meet capital needs.
- Sales Agent Collaboration: The company has entered into an Equity Distribution Agreement with multiple financial institutions, including Barclays Capital and J.P. Morgan, expecting to conduct stock sales through market transactions and block trades to optimize liquidity.
- Clear Use of Proceeds: Con Edison intends to use the funds raised from this offering for its subsidiaries' capital requirements and other general corporate purposes, demonstrating a proactive approach to future investments.
- Compliance and Transparency: The offering is being conducted in accordance with an effective registration statement filed with the SEC, ensuring that investors can access relevant prospectuses and supplements, thereby enhancing market confidence.
See More
Con Edison Reports Q1 2026 Net Income Growth
- Net Income Growth: Con Edison reported a net income of $924 million for Q1 2026, translating to $2.55 per share, up from $791 million and $2.26 per share in Q1 2025, indicating enhanced profitability and stability in a crucial economic market.
- Stable Adjusted Earnings: The adjusted earnings for Q1 2026 stood at $790 million or $2.18 per share, slightly down from $792 million or $2.26 per share in 2025, primarily due to transaction costs related to the strategic alternatives review, reflecting the company's cautious approach to market fluctuations.
- Investment Plan Reaffirmation: The company reaffirmed its adjusted EPS guidance for 2026 in the range of $6.00 to $6.20, emphasizing ongoing efforts in infrastructure investment and system resilience to meet growing energy demands, ensuring long-term value creation.
- Stock Sale Proceeds: In the first quarter, Con Edison successfully settled a forward sale agreement for 7 million shares, generating proceeds of $357.5 million to support investments in its energy systems, further solidifying its market position.
See More
Con Edison Reports Q1 2026 Net Income Growth
- Net Income Growth: Con Edison reported a net income of $924 million for Q1 2026, translating to $2.55 per share, up from $791 million and $2.26 per share in Q1 2025, indicating enhanced profitability and reflecting the company's stability and growth potential in the energy market.
- Adjusted Earnings Performance: The adjusted earnings for Q1 2026 were $790 million or $2.18 per share, slightly down from $792 million and $2.26 per share in 2025, primarily due to transaction costs associated with the strategic alternatives review, highlighting ongoing efforts to optimize the investment portfolio.
- Infrastructure Investment: The company is proactively investing to meet the rapid growth in electrification and transportation demand by building new substations and enhancing system resilience against extreme weather, which not only improves service reliability but also lays the groundwork for future market expansion.
- Future Outlook: Con Edison reaffirmed its adjusted EPS guidance range for 2026 at $6.00 to $6.20, demonstrating confidence in future performance, while raising $357.5 million through a forward sale agreement for 7 million shares to support investments in its energy systems.
See More
Analysis of Upcoming U.S. Jobs Report Outlook
- Job Market Expectations: According to FactSet consensus estimates, the U.S. is expected to add only 50,000 jobs in April, significantly lower than March's 178,000, indicating signs of economic slowdown that could impact investor confidence.
- Unemployment Rate Stability: The unemployment rate is anticipated to remain steady at 4.3%, suggesting that despite the decrease in job additions, the labor market remains relatively stable, potentially alleviating fears of an economic downturn.
- GDP Growth Situation: The U.S. GDP grew at a seasonally adjusted annualized rate of 2% in the first quarter, higher than the fourth quarter's 0.5% but below the 2.2% estimate, reflecting economic sluggishness that may influence future monetary policy decisions.
- Market Volatility: Despite a strong performance in April, with the S&P 500 and Nasdaq hitting record highs, investors should remain cautious of the upcoming
See More
Consolidated Edison Declares Quarterly Dividend of $0.8875
- Quarterly Dividend Announcement: Consolidated Edison has declared a quarterly dividend of $0.8875 per share, consistent with previous distributions, demonstrating the company's ongoing ability to maintain stable cash flows, which is likely to attract income-seeking investors.
- Dividend Yield: The forward yield of 3.21% reflects the company's appeal in the current market environment, potentially increasing investor interest in its stock, especially amid rising interest rates.
- Shareholder Record Date: The dividend will be payable on June 15, with a record date of May 13 and an ex-dividend date also on May 13, providing investors with a clear timeline for their investment decisions.
- Consistent Dividend Policy: The company has announced the same dividend for two consecutive quarters, indicating consistency in financial management and a commitment to shareholder returns, which may bolster market confidence in its future profitability.
See More
