Chevy Chase Trust Holdings Inc. Has $455,000 Position in WGL Holdings Inc (WGL)
Chevy Chase Trust Holdings Inc. decreased its position in shares of WGL Holdings Inc (NYSE:WGL) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,460 shares of the utilities provider’s stock after selling 234 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in WGL Holdings were worth $455,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio raised its position in shares of WGL Holdings by 2.5% in the first quarter. Strs Ohio now owns 8,100 shares of the utilities provider’s stock worth $668,000 after buying an additional 200 shares during the period. Janney Montgomery Scott LLC raised its position in shares of WGL Holdings by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 29,174 shares of the utilities provider’s stock worth $2,408,000 after buying an additional 124 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of WGL Holdings during the first quarter worth about $288,000. ProShare Advisors LLC raised its position in shares of WGL Holdings by 10.5% in the first quarter. ProShare Advisors LLC now owns 218,464 shares of the utilities provider’s stock worth $18,030,000 after buying an additional 20,777 shares during the period. Finally, First Manhattan Co. raised its position in shares of WGL Holdings by 10.9% in the first quarter. First Manhattan Co. now owns 27,500 shares of the utilities provider’s stock worth $1,724,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 67.98% of the company’s stock.
Shares of WGL Holdings Inc (WGL) opened at 85.37 on Wednesday. WGL Holdings Inc has a 1-year low of $58.66 and a 1-year high of $85.88. The stock has a 50 day moving average price of $83.67 and a 200-day moving average price of $82.45. The company has a market cap of $4.37 billion, a P/E ratio of 25.14 and a beta of 0.66.
WGL Holdings (NYSE:WGL) last released its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.87 EPS for the quarter, missing the Zacks’ consensus estimate of $1.97 by $0.10. The business had revenue of $841.80 million for the quarter, compared to the consensus estimate of $899.14 million. WGL Holdings had a return on equity of 12.25% and a net margin of 7.46%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share. Analysts predict that WGL Holdings Inc will post $3.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be given a dividend of $0.51 per share. The ex-dividend date is Thursday, July 6th. This represents a $2.04 dividend on an annualized basis and a yield of 2.39%. WGL Holdings’s dividend payout ratio (DPR) is presently 60.18%.
A number of brokerages have issued reports on WGL. BidaskClub lowered WGL Holdings from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered WGL Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. WGL Holdings presently has an average rating of “Hold” and an average price target of $76.75.
In related news, Director Debra L. Lee sold 3,615 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $83.66, for a total transaction of $302,430.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.99% of the stock is owned by corporate insiders.
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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