WGL Holdings Inc (NYSE:WGL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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 WGL Holdings from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 17th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $76.75.

Shares of WGL Holdings (NYSE:WGL) traded up 0.14% on Wednesday, reaching $83.97. The company’s stock had a trading volume of 19,623 shares. The stock has a market cap of $4.30 billion, a PE ratio of 24.73 and a beta of 0.66. The firm has a 50 day moving average price of $83.48 and a 200-day moving average price of $82.25. WGL Holdings has a 12-month low of $58.66 and a 12-month high of $84.55.

WGL Holdings (NYSE:WGL) last posted its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.97 by $0.10. The firm had revenue of $841.80 million for the quarter, compared to analysts’ expectations of $899.14 million. WGL Holdings had a net margin of 7.46% and a return on equity of 12.25%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 EPS. Equities research analysts expect that WGL Holdings will post $3.25 EPS for the current year.

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In other WGL Holdings news, Director Debra L. Lee sold 2,800 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $82.94, for a total transaction of $232,232.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.99% of the company’s stock.

A number of institutional investors have recently modified their holdings of WGL. Burt Wealth Advisors increased its position in shares of WGL Holdings by 0.3% in the third quarter. Burt Wealth Advisors now owns 6,890 shares of the utilities provider’s stock worth $432,000 after buying an additional 18 shares in the last quarter. Paragon Capital Management LLC boosted its position in shares of WGL Holdings by 0.6% in the first quarter. Paragon Capital Management LLC now owns 3,602 shares of the utilities provider’s stock worth $297,000 after buying an additional 22 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of WGL Holdings by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,578 shares of the utilities provider’s stock worth $578,000 after buying an additional 26 shares during the last quarter. US Bancorp DE boosted its position in shares of WGL Holdings by 0.3% in the third quarter. US Bancorp DE now owns 8,536 shares of the utilities provider’s stock worth $536,000 after buying an additional 27 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of WGL Holdings by 0.6% in the fourth quarter. Baird Financial Group Inc. now owns 8,743 shares of the utilities provider’s stock worth $667,000 after buying an additional 54 shares during the last quarter. Institutional investors own 68.04% 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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