WGL Holdings Inc (WGL) Upgraded by Zacks Investment Research to “Hold”
WGL Holdings Inc (NYSE:WGL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Several other equities research analysts have also weighed in on the company. Hilliard Lyons upgraded WGL Holdings from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 29th. BidaskClub lowered WGL Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. WGL Holdings has an average rating of “Hold” and a consensus price target of $74.67.
Shares of WGL Holdings (NYSE WGL) opened at 85.79 on Tuesday. The company has a market cap of $4.39 billion, a P/E ratio of 24.43 and a beta of 0.68. The company has a 50 day moving average price of $84.84 and a 200 day moving average price of $83.89. WGL Holdings has a one year low of $59.07 and a one year high of $86.89.
WGL Holdings (NYSE:WGL) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). WGL Holdings had a net margin of 7.60% and a return on equity of 11.76%. The company had revenue of $474.36 million during the quarter, compared to the consensus estimate of $477.01 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts expect that WGL Holdings will post $3.16 earnings per share for the current year.
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In other WGL Holdings news, Director Debra L. Lee sold 2,122 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $84.00, for a total transaction of $178,248.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.99% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of WGL. UBS Asset Management Americas Inc. lifted its holdings in WGL Holdings by 54.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 47,100 shares of the utilities provider’s stock worth $3,887,000 after buying an additional 16,582 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of WGL Holdings by 3.9% in the 1st quarter. Stifel Financial Corp now owns 6,328 shares of the utilities provider’s stock valued at $523,000 after purchasing an additional 239 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of WGL Holdings by 234.4% in the 1st quarter. OppenheimerFunds Inc. now owns 21,239 shares of the utilities provider’s stock valued at $1,752,000 after purchasing an additional 14,887 shares during the period. Teachers Advisors LLC lifted its stake in shares of WGL Holdings by 2.5% in the 1st quarter. Teachers Advisors LLC now owns 108,284 shares of the utilities provider’s stock valued at $8,937,000 after purchasing an additional 2,673 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of WGL Holdings by 1.5% in the 1st quarter. California Public Employees Retirement System now owns 101,800 shares of the utilities provider’s stock valued at $8,402,000 after purchasing an additional 1,500 shares during the period. 68.64% of the stock is currently owned by hedge funds and other 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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