WGL Holdings Inc (NYSE:WGL) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded WGL Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Hilliard Lyons downgraded WGL Holdings from a “neutral” rating to an “underperform” rating in a report on Wednesday, March 15th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.00.
WGL Holdings (WGL) traded up 0.30% during midday trading on Friday, reaching $84.30. 649,288 shares of the company were exchanged. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 24.82 and a beta of 0.65. WGL Holdings has a 52-week low of $58.66 and a 52-week high of $84.55. The firm’s 50-day moving average price is $82.93 and its 200 day moving average price is $81.09.
WGL Holdings (NYSE:WGL) last issued its earnings results on Tuesday, May 2nd. The utilities provider reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by $0.10. The business had revenue of $841.80 million during the quarter, compared to analyst estimates of $899.14 million. WGL Holdings had a net margin of 7.46% and a return on equity of 12.25%. WGL Holdings’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. Equities analysts predict that WGL Holdings will post $3.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be issued a $0.51 dividend. The ex-dividend date is Thursday, July 6th. This represents a $2.04 dividend on an annualized basis and a yield of 2.42%. WGL Holdings’s dividend payout ratio is currently 60.18%.
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In related news, Director Debra L. Lee sold 3,615 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $83.66, for a total value of $302,430.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.09% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Madden Advisory Services Inc. purchased a new position in WGL Holdings during the first quarter worth approximately $191,000. TD Asset Management Inc. purchased a new position in WGL Holdings during the first quarter worth approximately $204,000. Dynamic Technology Lab Private Ltd purchased a new position in WGL Holdings during the first quarter worth approximately $206,000. Raymond James Trust N.A. purchased a new position in WGL Holdings during the first quarter worth approximately $210,000. Finally, Elkfork Partners LLC purchased a new position in WGL Holdings during the fourth quarter worth approximately $211,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.
About WGL Holdings
WGL Holdings, Inc (WGL) is a holding company. The Company operates through four segments. The Regulated Utility segment consists of Washington Gas Light Company, which provides regulated gas distribution services to end use customers and natural gas transportation services to an unaffiliated natural gas distribution company and Hampshire Gas Company, which provides regulated interstate natural gas storage services.
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