WGL Holdings Inc (NYSE:WGL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

A number of other equities research analysts also recently weighed in on WGL. Janney Montgomery Scott raised WGL Holdings from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Friday, November 18th. Wells Fargo & Company reaffirmed a “hold” rating on shares of WGL Holdings in a report on Thursday, December 1st. Finally, Seaport Global Securities initiated coverage on WGL Holdings in a report on Friday, December 2nd. They issued a “neutral” rating and a $71.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, WGL Holdings currently has an average rating of “Hold” and a consensus price target of $76.00.

Analyst Recommendations for WGL Holdings (NYSE:WGL)

Shares of WGL Holdings (NYSE:WGL) traded down 0.89% during trading on Tuesday, reaching $75.60. The company’s stock had a trading volume of 199,732 shares. The firm’s 50-day moving average is $72.92 and its 200 day moving average is $67.05. WGL Holdings has a 52-week low of $58.66 and a 52-week high of $79.97. The company has a market cap of $3.87 billion, a PE ratio of 22.84 and a beta of 0.55.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be paid a $0.4875 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, January 6th. WGL Holdings’s payout ratio is 58.38%.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. M&R Capital Management Inc. purchased a new position in shares of WGL Holdings during the second quarter worth approximately $120,000. State of Alaska Department of Revenue purchased a new position in shares of WGL Holdings during the third quarter worth approximately $123,000. LS Investment Advisors LLC boosted its position in shares of WGL Holdings by 8.7% in the third quarter. LS Investment Advisors LLC now owns 3,281 shares of the company’s stock worth $206,000 after buying an additional 263 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of WGL Holdings during the second quarter worth approximately $207,000. Finally, World Asset Management Inc purchased a new position in shares of WGL Holdings during the third quarter worth approximately $207,000. Institutional investors own 66.01% of the company’s stock.

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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