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 Friday.

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. “

Other equities analysts also recently issued reports about the stock. Seaport Global Securities started coverage on shares of WGL Holdings in a research note on Friday, December 2nd. They issued a “neutral” rating and a $71.00 price target on the stock. Janney Montgomery Scott raised shares of WGL Holdings from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Friday, November 18th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of WGL Holdings in a research note on Thursday, December 1st. Six investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $75.00.

Analyst Recommendations for WGL Holdings (NYSE:WGL)

WGL Holdings (NYSE:WGL) opened at 80.26 on Friday. The firm has a market cap of $4.11 billion, a PE ratio of 24.25 and a beta of 0.55. WGL Holdings has a 1-year low of $58.66 and a 1-year high of $83.79. The company has a 50 day moving average price of $75.95 and a 200 day moving average price of $67.53.

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 paid a $0.4875 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, January 6th. WGL Holdings’s dividend payout ratio (DPR) is presently 58.38%.

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Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in WGL Holdings during the third quarter worth $123,000. LS Investment Advisors LLC increased its position in WGL Holdings by 8.7% in the third quarter. LS Investment Advisors LLC now owns 3,281 shares of the company’s stock valued at $206,000 after buying an additional 263 shares during the last quarter. Private Advisor Group LLC acquired a new position in WGL Holdings during the second quarter valued at approximately $207,000. World Asset Management Inc acquired a new position in WGL Holdings during the third quarter valued at approximately $207,000. Finally, Paragon Capital Management LLC increased its position in WGL Holdings by 0.7% in the third quarter. Paragon Capital Management LLC now owns 3,499 shares of the company’s stock valued at $219,000 after buying an additional 24 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

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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