WGL Holdings Inc. (WGL) Downgraded by Zacks Investment Research to Sell
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 Holdings (NYSE:WGL) traded down 0.55% during mid-day trading on Thursday, hitting $59.32. 91,370 shares of the stock were exchanged. The stock has a market cap of $3.03 billion, a PE ratio of 16.78 and a beta of 0.57. WGL Holdings has a 52-week low of $57.04 and a 52-week high of $74.10. The stock’s 50 day moving average is $63.03 and its 200 day moving average is $67.17.
WGL Holdings (NYSE:WGL) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.14 by $0.19. The business had revenue of $440.60 million for the quarter, compared to the consensus estimate of $482.57 million. WGL Holdings had a net margin of 7.61% and a return on equity of 11.60%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. Analysts forecast that WGL Holdings will post $3.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.4875 per share. This represents a $1.95 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Wednesday, October 5th. WGL Holdings’s payout ratio is 55.08%.
Institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in WGL Holdings during the second quarter valued at about $120,000. M&R Capital Management Inc. bought a new position in WGL Holdings during the second quarter valued at about $120,000. Invictus RG increased its position in WGL Holdings by 64.7% in the first quarter. Invictus RG now owns 2,484 shares of the company’s stock valued at $180,000 after buying an additional 976 shares during the last quarter. Private Advisor Group LLC bought a new position in WGL Holdings during the second quarter valued at about $207,000. Finally, LS Investment Advisors LLC increased its position in WGL Holdings by 75.1% in the second quarter. LS Investment Advisors LLC now owns 3,018 shares of the company’s stock valued at $214,000 after buying an additional 1,294 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.
WGL Holdings Company Profile
WGL Holdings, Inc (WGL Holdings), is a United States of America-based public utility holding. Through its wholly owned subsidiaries, it sells and delivers natural gas and provides energy-related products and services to customers primarily in the District of Columbia and the surrounding metropolitan areas in Maryland and Virginia.
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