Nuveen Asset Management LLC Has $1.45 Million Stake in WGL Holdings Inc (NYSE:WGL)
Nuveen Asset Management LLC cut its stake in WGL Holdings Inc (NYSE:WGL) by 82.5% during the first quarter, Holdings Channel reports. The firm owned 17,605 shares of the utilities provider’s stock after selling 82,928 shares during the period. Nuveen Asset Management LLC’s holdings in WGL Holdings were worth $1,453,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WGL. Madden Advisory Services Inc. bought a new position in WGL Holdings during the first quarter valued at $191,000. TD Asset Management Inc. acquired a new stake in WGL Holdings during the first quarter worth approximately $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in WGL Holdings during the first quarter worth approximately $206,000. Raymond James Trust N.A. acquired a new stake in WGL Holdings during the first quarter worth approximately $210,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in WGL Holdings during the first quarter worth approximately $228,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.
WGL Holdings Inc (WGL) opened at 83.85 on Wednesday. The company has a 50-day moving average of $83.48 and a 200-day moving average of $82.25. WGL Holdings Inc has a 52 week low of $58.66 and a 52 week high of $84.55. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 24.69 and a beta of 0.66.
WGL Holdings (NYSE:WGL) last issued its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by $0.10. The business had revenue of $841.80 million for the quarter, compared to analyst estimates of $899.14 million. WGL Holdings had a net margin of 7.46% and a return on equity of 12.25%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. On average, equities analysts forecast that WGL Holdings Inc will post $3.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, July 6th. WGL Holdings’s dividend payout ratio is 60.18%.
A number of research firms have commented on WGL. BidaskClub lowered shares of WGL Holdings from a “hold” rating to a “sell” rating in a report on Sunday. Zacks Investment Research lowered shares of WGL Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $76.75.
In other WGL Holdings news, Director Debra L. Lee sold 2,800 shares of WGL Holdings stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $82.94, for a total value of $232,232.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.99% of the company’s stock.
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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