WGL Holdings Inc (NYSE:WGL) Upgraded to Hold at BidaskClub
WGL Holdings Inc (NYSE:WGL) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.
Separately, Zacks Investment Research cut WGL Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. 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 has an average rating of “Hold” and an average target price of $76.75.
WGL Holdings (WGL) traded down 0.69% during midday trading on Friday, reaching $85.16. 117,424 shares of the company’s stock traded hands. WGL Holdings has a 52 week low of $58.66 and a 52 week high of $86.89. The company’s 50-day moving average price is $84.47 and its 200 day moving average price is $83.10. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 24.26 and a beta of 0.67.
WGL Holdings (NYSE:WGL) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $474.36 million for the quarter, compared to the consensus estimate of $477.01 million. WGL Holdings had a net margin of 7.60% and a return on equity of 11.76%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. On average, equities research analysts expect that WGL Holdings will post $3.18 earnings per share for the current year.
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In other news, Director Debra L. Lee sold 2,800 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $82.94, for a total value of $232,232.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.09% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of WGL Holdings by 7.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,756 shares of the utilities provider’s stock worth $147,000 after buying an additional 128 shares during the period. Madden Advisory Services Inc. acquired a new stake in shares of WGL Holdings during the first quarter worth $191,000. Greenwood Capital Associates LLC acquired a new stake in shares of WGL Holdings during the second quarter worth $203,000. TD Asset Management Inc. acquired a new stake in shares of WGL Holdings during the first quarter worth $204,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of WGL Holdings during the first quarter worth $206,000. Institutional investors own 68.01% 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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