FY2017 EPS Estimates for WGL Holdings Inc Lowered by Analyst (NYSE:WGL)
WGL Holdings Inc (NYSE:WGL) – Research analysts at Seaport Global Securities lowered their FY2017 earnings per share (EPS) estimates for WGL Holdings in a research report issued to clients and investors on Friday. Seaport Global Securities analyst M. Levin now anticipates that the utilities provider will earn $3.15 per share for the year, down from their prior forecast of $3.25. Seaport Global Securities also issued estimates for WGL Holdings’ FY2018 earnings at $3.50 EPS and FY2019 earnings at $3.70 EPS.
WGL Holdings (NYSE:WGL) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The business had revenue of $474.36 million during the quarter, compared to analyst estimates of $477.01 million. WGL Holdings had a return on equity of 11.76% and a net margin of 7.60%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. COPYRIGHT VIOLATION NOTICE: “FY2017 EPS Estimates for WGL Holdings Inc Lowered by Analyst (NYSE:WGL)” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/08/07/fy2017-eps-estimates-for-wgl-holdings-inc-lowered-by-analyst-nysewgl.html.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of WGL Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. BidaskClub raised shares of WGL Holdings from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 17th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $76.75.
WGL Holdings (NYSE WGL) opened at 85.69 on Monday. WGL Holdings has a 52-week low of $58.66 and a 52-week high of $86.89. The firm has a 50-day moving average of $84.10 and a 200 day moving average of $82.84. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 24.41 and a beta of 0.67.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, July 6th. WGL Holdings’s payout ratio is presently 58.12%.
In other WGL Holdings news, Director Debra L. Lee sold 2,800 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.09% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of WGL. Madden Advisory Services Inc. bought a new stake in shares of WGL Holdings during the first quarter valued at about $191,000. TD Asset Management Inc. acquired a new position in shares of WGL Holdings during the first quarter valued at approximately $204,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of WGL Holdings during the first quarter valued at approximately $206,000. Raymond James Trust N.A. acquired a new position in shares of WGL Holdings during the first quarter valued at approximately $210,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of WGL Holdings during the first quarter valued at approximately $228,000. 67.98% of the stock is 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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