WGL Holdings Inc. (WGL) Position Raised by Hennessy Advisors Inc.
Hennessy Advisors Inc. raised its stake in WGL Holdings Inc. (NYSE:WGL) by 13.1% during the third quarter, Holdings Channel reports. The institutional investor owned 354,092 shares of the company’s stock after buying an additional 41,000 shares during the period. Hennessy Advisors Inc.’s holdings in WGL Holdings were worth $22,202,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning boosted its position in 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. Mason Street Advisors LLC acquired a new position in WGL Holdings during the second quarter valued at $1,625,000. Retirement Systems of Alabama boosted its position in WGL Holdings by 1.0% in the second quarter. Retirement Systems of Alabama now owns 64,934 shares of the company’s stock valued at $4,597,000 after buying an additional 658 shares in the last quarter. SG Americas Securities LLC boosted its position in WGL Holdings by 2.6% in the second quarter. SG Americas Securities LLC now owns 21,467 shares of the company’s stock valued at $1,520,000 after buying an additional 546 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its position in WGL Holdings by 1.5% in the second quarter. State Treasurer State of Michigan now owns 20,240 shares of the company’s stock valued at $1,433,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.
WGL Holdings Inc. (NYSE:WGL) traded up 0.46% during mid-day trading on Tuesday, reaching $69.34. The company 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 stock’s 50-day moving average price is $62.28 and its 200 day moving average price is $65.34. The firm has a market capitalization of $3.55 billion, a PE ratio of 20.95 and a beta of 0.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be given a $0.4875 dividend. The ex-dividend date is Friday, January 6th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.83%. WGL Holdings’s payout ratio is 58.38%.
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Several research analysts have recently weighed in on WGL shares. Zacks Investment Research cut 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 target for the company in a research note on Friday, November 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average 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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