WGL Holdings Inc (NYSE:WGL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
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, BidaskClub upgraded shares of WGL Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $76.75.
Shares of WGL Holdings (WGL) opened at 84.82 on Friday. The company has a market capitalization of $4.34 billion, a P/E ratio of 24.16 and a beta of 0.67. The firm has a 50-day moving average of $84.51 and a 200-day moving average of $83.15. WGL Holdings has a 12 month low of $58.66 and a 12 month high of $86.89.
WGL Holdings (NYSE:WGL) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.01. WGL Holdings had a return on equity of 11.76% and a net margin of 7.60%. The firm had revenue of $474.36 million during the quarter, compared to analysts’ expectations of $477.01 million. During the same period last year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that WGL Holdings will post $3.18 earnings per share for the current year.
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In related news, Director Debra L. Lee sold 3,615 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were 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 accessible through this link. Company insiders own 1.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of WGL. BlackRock Inc. boosted its position in shares of WGL Holdings by 3,986.0% in the first quarter. BlackRock Inc. now owns 5,449,997 shares of the utilities provider’s stock valued at $449,789,000 after buying an additional 5,316,615 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of WGL Holdings by 340.7% in the first quarter. JPMorgan Chase & Co. now owns 722,496 shares of the utilities provider’s stock valued at $59,628,000 after buying an additional 558,565 shares during the last quarter. P Schoenfeld Asset Management LP acquired a new position in shares of WGL Holdings during the first quarter valued at about $29,749,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of WGL Holdings by 2,936.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 230,123 shares of the utilities provider’s stock valued at $18,992,000 after buying an additional 222,545 shares during the last quarter. Finally, State Street Corp boosted its position in shares of WGL Holdings by 4.6% in the first quarter. State Street Corp now owns 4,025,759 shares of the utilities provider’s stock valued at $332,254,000 after buying an additional 177,248 shares during the last quarter. Institutional investors own 68.01% 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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