Zacks Investment Research cut shares of WGL Holdings Inc. (NYSE:WGL) from a buy rating to a hold rating in a research note published on Tuesday morning.

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. “

Separately, Janney Montgomery Scott raised shares of WGL Holdings from a neutral rating to a buy rating and set a $71.00 price target on the stock in a research note on Friday, November 18th. Six investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and a consensus price target of $74.50.

Analyst Recommendations for WGL Holdings (NYSE:WGL)

WGL Holdings (NYSE:WGL) opened at 75.21 on Tuesday. The stock has a market capitalization of $3.85 billion, a PE ratio of 22.72 and a beta of 0.48. The firm’s 50-day moving average is $62.34 and its 200 day moving average is $65.32. WGL Holdings has a 52-week low of $58.62 and a 52-week high of $77.25.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be issued a $0.4875 dividend. The ex-dividend date is Friday, January 6th. This represents a $1.95 annualized dividend and a yield of 2.59%. WGL Holdings’s dividend payout ratio is currently 58.38%.

Institutional investors have recently made changes to their positions in the stock. AMP Capital Investors Ltd raised its position in shares of WGL Holdings by 22.1% in the first quarter. AMP Capital Investors Ltd now owns 24,351 shares of the company’s stock valued at $1,757,000 after buying an additional 4,400 shares in the last quarter. Arizona State Retirement System raised its position in shares of WGL Holdings by 4.4% in the first quarter. Arizona State Retirement System now owns 25,838 shares of the company’s stock valued at $1,870,000 after buying an additional 1,100 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of WGL Holdings by 69,956.8% in the second quarter. BNP Paribas Arbitrage SA now owns 25,921 shares of the company’s stock valued at $1,835,000 after buying an additional 25,884 shares in the last quarter. Creative Planning raised 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 valued at $1,431,000 after buying an additional 1,671 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of WGL Holdings by 2.9% in the second quarter. Capstone Asset Management Co. now owns 4,596 shares of the company’s stock valued at $325,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.

5 Day Chart for NYSE:WGL

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