WGL Holdings Inc (WGL) to Post FY2018 Earnings of $3.60 Per Share, Seaport Global Securities Forecasts
WGL Holdings Inc (NYSE:WGL) – Analysts at Seaport Global Securities lifted their FY2018 earnings estimates for shares of WGL in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Levin now anticipates that the utilities provider will post earnings of $3.60 per share for the year, up from their previous estimate of $3.50. Seaport Global Securities also issued estimates for WGL’s Q4 2018 earnings at $0.00 EPS and FY2019 earnings at $3.80 EPS.
Several other research analysts have also recently issued reports on the company. Hilliard Lyons upgraded WGL from an “underperform” rating to a “neutral” rating in a research report on Tuesday, August 29th. Zacks Investment Research cut WGL from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, BidaskClub cut WGL from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. WGL presently has an average rating of “Hold” and a consensus price target of $76.50.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.42%. The ex-dividend date is Tuesday, January 9th. WGL’s dividend payout ratio (DPR) is 54.55%.
In other WGL 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 value of $178,248.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.99% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in WGL by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,560,383 shares of the utilities provider’s stock worth $380,473,000 after buying an additional 64,602 shares during the last quarter. Magnetar Financial LLC boosted its stake in WGL by 58.6% in the 3rd quarter. Magnetar Financial LLC now owns 1,585,696 shares of the utilities provider’s stock worth $133,516,000 after buying an additional 586,112 shares during the last quarter. Northern Trust Corp boosted its stake in WGL by 1.3% in the 2nd quarter. Northern Trust Corp now owns 1,372,474 shares of the utilities provider’s stock worth $114,507,000 after buying an additional 17,818 shares during the last quarter. Earnest Partners LLC boosted its stake in WGL by 1.6% in the 3rd quarter. Earnest Partners LLC now owns 1,269,627 shares of the utilities provider’s stock worth $106,903,000 after buying an additional 19,615 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in WGL by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 884,688 shares of the utilities provider’s stock worth $74,649,000 after buying an additional 47,245 shares during the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.
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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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