WGL Holdings Inc (WGL) Lifted to Sell at BidaskClub
BidaskClub upgraded shares of WGL Holdings Inc (NYSE:WGL) from a strong sell rating to a sell rating in a research report released on Saturday.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of WGL Holdings from a buy rating to a hold rating in a research note on Tuesday, May 9th. Hilliard Lyons downgraded shares of WGL Holdings from a neutral rating to an underperform rating in a research note on Wednesday, March 15th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of Hold and an average target price of $75.00.
WGL Holdings (NYSE:WGL) traded up 0.30% during trading on Friday, reaching $84.30. The company had a trading volume of 649,288 shares. The company has a 50-day moving average of $82.93 and a 200-day moving average of $81.09. WGL Holdings has a 52-week low of $58.66 and a 52-week high of $84.55. The firm has a market capitalization of $4.32 billion, a P/E ratio of 24.82 and a beta of 0.65.
WGL Holdings (NYSE:WGL) last posted its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.97 by $0.10. The company had revenue of $841.80 million during the quarter, compared to the consensus estimate of $899.14 million. WGL Holdings had a net margin of 7.46% and a return on equity of 12.25%. WGL Holdings’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. Analysts expect that WGL Holdings will post $3.25 EPS for the current fiscal year.
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The firm 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. This represents a $2.04 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, July 6th. WGL Holdings’s dividend payout ratio is presently 60.18%.
In related news, Director Debra L. Lee sold 2,800 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $82.94, for a total value of $232,232.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.09% of the company’s stock.
Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in WGL Holdings by 169.2% in the first quarter. Public Employees Retirement System of Ohio now owns 8,971 shares of the utilities provider’s stock worth $740,000 after buying an additional 5,638 shares during the period. FNY Partners Fund LP purchased a new stake in WGL Holdings during the first quarter worth about $247,000. Driehaus Capital Management LLC purchased a new stake in WGL Holdings during the first quarter worth about $3,514,000. HighTower Advisors LLC boosted its stake in WGL Holdings by 42.8% in the first quarter. HighTower Advisors LLC now owns 5,581 shares of the utilities provider’s stock worth $461,000 after buying an additional 1,673 shares during the period. Finally, Credit Suisse AG boosted its stake in WGL Holdings by 8.2% in the first quarter. Credit Suisse AG now owns 71,162 shares of the utilities provider’s stock worth $5,873,000 after buying an additional 5,370 shares during the period. 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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