WGL Holdings Inc. (WGL) Stock Rating Upgraded by Janney Montgomery Scott
WGL Holdings Inc. (NYSE:WGL) was upgraded by equities research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report released on Friday. The brokerage presently has a $71.00 price target on the stock. Janney Montgomery Scott’s target price would suggest a potential upside of 6.65% from the stock’s previous close.
Separately, Zacks Investment Research downgraded shares of WGL Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. WGL Holdings presently has an average rating of “Hold” and a consensus target price of $74.50.
Shares of WGL Holdings (NYSE:WGL) opened at 66.57 on Friday. The stock has a 50 day moving average of $61.42 and a 200 day moving average of $65.39. The stock has a market capitalization of $3.40 billion, a P/E ratio of 20.11 and a beta of 0.48. WGL Holdings has a 12-month low of $58.62 and a 12-month high of $74.10.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th were issued a dividend of $0.4875 per share. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $1.95 dividend on an annualized basis and a yield of 2.93%. WGL Holdings’s payout ratio is currently 58.38%.
A number of hedge funds have recently added to or reduced their stakes in the company. Burt Wealth Advisors boosted its stake in WGL Holdings by 0.3% in the third quarter. Burt Wealth Advisors now owns 6,890 shares of the company’s stock worth $432,000 after buying an additional 18 shares during the last quarter. Paragon Capital Management LLC boosted its stake in WGL Holdings by 0.7% in the third quarter. Paragon Capital Management LLC now owns 3,499 shares of the company’s stock worth $219,000 after buying an additional 24 shares during the last quarter. US Bancorp DE boosted its stake in WGL Holdings by 0.3% in the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock worth $536,000 after buying an additional 27 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in WGL Holdings by 1.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,690 shares of the company’s stock worth $615,000 after buying an additional 90 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its stake in WGL Holdings by 1.9% in the third quarter. Advantus Capital Management Inc now owns 6,214 shares of the company’s stock worth $390,000 after buying an additional 118 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors.
About WGL Holdings
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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