WGL Holdings Inc. (WGL) Position Raised by Hennessy Advisors Inc.
Hennessy Advisors Inc. raised its position in shares of WGL Holdings Inc. (NYSE:WGL) by 13.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 354,092 shares of the company’s stock after buying an additional 41,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.69% of WGL Holdings worth $22,202,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Creative Planning increased its position in shares of WGL Holdings by 9.0% in the second quarter. Creative Planning now owns 20,214 shares of the company’s stock worth $1,431,000 after buying an additional 1,671 shares during the period. Mason Street Advisors LLC acquired a new position in shares of WGL Holdings during the second quarter worth about $1,625,000. Retirement Systems of Alabama increased its position in shares of WGL Holdings by 1.0% in the second quarter. Retirement Systems of Alabama now owns 64,934 shares of the company’s stock worth $4,597,000 after buying an additional 658 shares during the period. SG Americas Securities LLC increased its position in shares of WGL Holdings by 2.6% in the second quarter. SG Americas Securities LLC now owns 21,467 shares of the company’s stock worth $1,520,000 after buying an additional 546 shares during the period. Finally, State Treasurer State of Michigan increased its position in shares of WGL Holdings by 1.5% in the second quarter. State Treasurer State of Michigan now owns 20,240 shares of the company’s stock worth $1,433,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.
WGL Holdings Inc. (NYSE:WGL) traded up 0.46% on Tuesday, hitting $69.34. The stock had a trading volume of 75,956 shares. WGL Holdings Inc. has a 52 week low of $58.62 and a 52 week high of $74.10. The firm has a 50-day moving average of $62.28 and a 200 day moving average of $65.34. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 20.95 and a beta of 0.48.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be paid a dividend of $0.4875 per share. This represents a $1.95 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Friday, January 6th. WGL Holdings’s payout ratio is 58.38%.
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WGL has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded WGL Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 6th. Janney Montgomery Scott upgraded WGL Holdings from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Friday, November 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. WGL Holdings presently has a consensus rating of “Hold” and a consensus price target of $74.50.
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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