WGL Holdings Inc. (NYSE:WGL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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 upgraded WGL Holdings from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a report on Friday, November 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $74.50.

Analyst Recommendations for WGL Holdings (NYSE:WGL)

Shares of WGL Holdings (NYSE:WGL) traded up 8.642% on Tuesday, reaching $74.985. The company’s stock had a trading volume of 1,032,098 shares. WGL Holdings has a 1-year low of $58.62 and a 1-year high of $77.25. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 22.654 and a beta of 0.48. The company’s 50 day moving average is $62.28 and its 200-day moving average is $65.34.

The company 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 dividend of $0.4875 per share. The ex-dividend date is Friday, January 6th. This represents a $1.95 annualized dividend and a dividend yield of 2.83%. WGL Holdings’s dividend payout ratio is currently 58.38%.

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Several hedge funds and other institutional investors have recently bought and sold shares of WGL. State Street Corp boosted its position in WGL Holdings by 14.4% in the second quarter. State Street Corp now owns 3,886,726 shares of the company’s stock valued at $275,140,000 after buying an additional 488,343 shares in the last quarter. BlackRock Fund Advisors boosted its position in WGL Holdings by 6.6% in the third quarter. BlackRock Fund Advisors now owns 2,782,064 shares of the company’s stock valued at $174,435,000 after buying an additional 171,574 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in WGL Holdings by 1.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,478,251 shares of the company’s stock valued at $104,645,000 after buying an additional 17,657 shares in the last quarter. Northern Trust Corp boosted its position in WGL Holdings by 0.7% in the third quarter. Northern Trust Corp now owns 1,385,917 shares of the company’s stock valued at $86,897,000 after buying an additional 9,887 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in WGL Holdings by 5.4% in the third quarter. Bank of New York Mellon Corp now owns 1,029,282 shares of the company’s stock valued at $64,536,000 after buying an additional 53,121 shares in the last quarter. 66.35% of the stock is owned by 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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