Janney Montgomery Scott Lowers WGL Holdings Inc. (WGL) to Neutral
WGL Holdings Inc. (NYSE:WGL) was downgraded by investment analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Separately, Zacks Investment Research cut WGL Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating, WGL Holdings currently has an average rating of “Hold” and a consensus target price of $74.50.
WGL Holdings (NYSE:WGL) traded up 8.454% on Tuesday, reaching $74.855. The company’s stock had a trading volume of 1,434,225 shares. WGL Holdings has a 52 week low of $58.62 and a 52 week high of $77.25. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 22.615 and a beta of 0.48. The company has a 50 day moving average of $62.28 and a 200 day moving average of $65.34.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors 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 dividend yield of 2.83%. The ex-dividend date is Friday, January 6th. WGL Holdings’s dividend payout ratio is currently 58.38%.
Large investors have recently modified their holdings of the company. Hennessy Advisors Inc. increased its position in WGL Holdings by 13.1% in the third quarter. Hennessy Advisors Inc. now owns 354,092 shares of the company’s stock valued at $22,202,000 after buying an additional 41,000 shares during the last quarter. 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 in the last quarter. Mason Street Advisors LLC bought 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 in the last quarter. Finally, 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 in the last quarter. 66.35% of the stock is owned by hedge funds and other 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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