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

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. “

WGL has been the topic of a number of other reports. Hilliard Lyons raised shares of WGL Holdings from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 29th. BidaskClub lowered shares of WGL Holdings from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $74.67.

Shares of WGL Holdings (NYSE WGL) traded up 0.04% during midday trading on Thursday, hitting $84.78. The stock had a trading volume of 323,895 shares. The stock has a market cap of $4.34 billion, a PE ratio of 24.15 and a beta of 0.68. The firm has a 50 day moving average price of $84.28 and a 200-day moving average price of $83.62. WGL Holdings has a 52-week low of $58.66 and a 52-week high of $86.89.

WGL Holdings (NYSE:WGL) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $474.36 million during the quarter, compared to analysts’ expectations of $477.01 million. During the same period last year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict that WGL Holdings will post $3.21 EPS for the current fiscal year.

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In other WGL Holdings news, Director Debra L. Lee sold 2,122 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $84.00, for a total value of $178,248.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.09% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Driehaus Capital Management LLC acquired a new stake in shares of WGL Holdings during the 1st quarter worth approximately $3,514,000. Bank of America Corp DE increased its holdings in shares of WGL Holdings by 3.5% during the 1st quarter. Bank of America Corp DE now owns 218,575 shares of the utilities provider’s stock worth $18,039,000 after buying an additional 7,426 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of WGL Holdings by 13.2% during the 1st quarter. Prudential Financial Inc. now owns 47,868 shares of the utilities provider’s stock worth $3,951,000 after buying an additional 5,590 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of WGL Holdings during the 1st quarter worth approximately $337,000. Finally, State of Wisconsin Investment Board increased its holdings in shares of WGL Holdings by 79.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 78,500 shares of the utilities provider’s stock worth $6,549,000 after buying an additional 34,700 shares during the last quarter. Institutional investors and hedge funds own 69.05% 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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