WGL Holdings Inc. (WGL) Stock Rating Reaffirmed by Wells Fargo & Co.
WGL Holdings Inc. (NYSE:WGL)‘s stock had its “hold” rating restated by research analysts at Wells Fargo & Co. in a report released on Thursday.
WGL has been the topic of several other research reports. Zacks Investment Research downgraded shares of WGL Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 6th. Janney Montgomery Scott raised shares of WGL Holdings from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Friday, November 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. WGL Holdings currently has a consensus rating of “Hold” and an average target price of $77.50.
WGL Holdings (NYSE:WGL) opened at 72.56 on Thursday. WGL Holdings has a one year low of $58.62 and a one year high of $74.94. The firm has a 50-day moving average of $62.28 and a 200 day moving average of $65.34. The stock has a market capitalization of $3.71 billion, a PE ratio of 21.92 and a beta of 0.48.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be issued a $0.4875 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, January 6th. WGL Holdings’s payout ratio is presently 58.38%.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its position in WGL Holdings by 4.4% in the first quarter. Arizona State Retirement System now owns 25,838 shares of the company’s stock worth $1,870,000 after buying an additional 1,100 shares during the last quarter. BNP Paribas Arbitrage SA boosted 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 during the last quarter. Creative Planning boosted 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 during the last quarter. Capstone Asset Management Co. boosted 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 during the last quarter. Finally, Heritage Investors Management Corp acquired a new position in shares of WGL Holdings during the second quarter valued at about $345,000. Hedge funds and other institutional investors 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.
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