WGL Holdings Inc (WGL) Receives $71.00 Average PT from Brokerages
WGL Holdings Inc (NYSE:WGL) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $71.00.
WGL has been the topic of several analyst reports. Zacks Investment Research downgraded shares of WGL Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Hilliard Lyons raised shares of WGL Holdings from an “underperform” rating to a “neutral” rating in a research report on Tuesday, August 29th. Finally, BidaskClub raised shares of WGL Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd.
WGL Holdings (NYSE:WGL) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $474.36 million during the quarter, compared to analysts’ expectations of $477.01 million. WGL Holdings had a return on equity of 11.76% and a net margin of 7.60%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.33 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, October 6th. WGL Holdings’s payout ratio is presently 58.12%.
In related news, Director Debra L. Lee sold 2,122 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $84.00, for a total transaction of $178,248.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.99% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in WGL. BlackRock Inc. grew its position in WGL Holdings by 3,986.0% during the first quarter. BlackRock Inc. now owns 5,449,997 shares of the utilities provider’s stock valued at $449,789,000 after purchasing an additional 5,316,615 shares in the last quarter. JPMorgan Chase & Co. grew its position in WGL Holdings by 340.7% during the first quarter. JPMorgan Chase & Co. now owns 722,496 shares of the utilities provider’s stock valued at $59,628,000 after purchasing an additional 558,565 shares in the last quarter. State Street Corp grew its position in WGL Holdings by 4.6% during the first quarter. State Street Corp now owns 4,025,759 shares of the utilities provider’s stock valued at $332,254,000 after purchasing an additional 177,248 shares in the last quarter. Sentry Investments Corp. purchased a new position in WGL Holdings during the second quarter valued at approximately $14,534,000. Finally, FMR LLC purchased a new position in WGL Holdings during the second quarter valued at approximately $12,808,000. 69.05% of the stock is currently owned by hedge funds and other institutional investors.
WGL Holdings Company Profile
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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