Zacks Investment Research lowered shares of WGL Holdings Inc. (NYSE:WGL) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “WASHINGTON GAS LIGHT CO is a public utility that delivers and sells natural gas to metropolitan Washington, D.C. and adjoining areas in Maryland and Virginia. A distribution subsidiary serves portions of Virginia and West Virginia. The Company has four wholly-owned active subsidiaries that include: Shenandoah Gas Company (Shenandoah) is engaged in the delivery and sale of natural gas at retail in the Shenandoah Valley, including Winchester, Middletown, Strasburg, Stephens City and New Market, Virginia, and Martinsburg, West Virginia. “

Separately, Janney Montgomery Scott upgraded shares of WGL Holdings from a neutral rating to a buy rating and set a $71.00 target price for the company in a research report on Friday, November 18th. Six investment analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average target price of $74.50.

Analyst Recommendations for WGL Holdings (NYSE:WGL)

Shares of WGL Holdings (NYSE:WGL) opened at 75.21 on Tuesday. The firm has a 50-day moving average of $62.34 and a 200 day moving average of $65.32. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 22.72 and a beta of 0.48. WGL Holdings has a 12-month low of $58.62 and a 12-month high of $77.25.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be issued a dividend of $0.4875 per share. This represents a $1.95 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, January 6th. WGL Holdings’s dividend payout ratio (DPR) is presently 58.38%.

Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in shares of WGL Holdings during the second quarter valued at about $120,000. M&R Capital Management Inc. bought a new stake in shares of WGL Holdings during the second quarter valued at about $120,000. State of Alaska Department of Revenue bought a new stake in shares of WGL Holdings during the third quarter valued at about $123,000. Private Advisor Group LLC bought a new stake in shares of WGL Holdings during the second quarter valued at about $207,000. Finally, LS Investment Advisors LLC raised its stake in shares of WGL Holdings by 75.1% in the second quarter. LS Investment Advisors LLC now owns 3,018 shares of the company’s stock valued at $214,000 after buying an additional 1,294 shares during the period. 66.35% of the stock is currently owned by institutional investors.

WGL Holdings Company Profile

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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