WGL Holdings Inc (NYSE:WGL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “

Separately, BidaskClub upgraded shares of WGL Holdings from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 17th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. WGL Holdings has a consensus rating of “Hold” and an average price target of $76.75.

Shares of WGL Holdings (NYSE:WGL) opened at 85.75 on Friday. WGL Holdings has a one year low of $58.66 and a one year high of $86.89. The firm has a 50-day moving average of $84.47 and a 200-day moving average of $83.10. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 24.42 and a beta of 0.67.

WGL Holdings (NYSE:WGL) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. WGL Holdings had a net margin of 7.60% and a return on equity of 11.76%. The firm had revenue of $474.36 million for the quarter, compared to the consensus estimate of $477.01 million. During the same quarter last year, the firm earned $0.33 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that WGL Holdings will post $3.18 EPS for the current fiscal year.

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In other WGL Holdings news, Director Debra L. Lee sold 3,615 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $83.66, for a total transaction of $302,430.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.09% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in WGL Holdings by 3,986.0% in the first quarter. BlackRock Inc. now owns 5,449,997 shares of the utilities provider’s stock worth $449,789,000 after buying an additional 5,316,615 shares during the period. JPMorgan Chase & Co. boosted its position in WGL Holdings by 340.7% in the first quarter. JPMorgan Chase & Co. now owns 722,496 shares of the utilities provider’s stock worth $59,628,000 after buying an additional 558,565 shares during the period. P Schoenfeld Asset Management LP purchased a new position in WGL Holdings during the first quarter worth $29,749,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in WGL Holdings by 2,936.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 230,123 shares of the utilities provider’s stock worth $18,992,000 after buying an additional 222,545 shares during the period. Finally, State Street Corp boosted its position in WGL Holdings by 4.6% in the first quarter. State Street Corp now owns 4,025,759 shares of the utilities provider’s stock worth $332,254,000 after buying an additional 177,248 shares during the period. Institutional investors and hedge funds own 68.01% 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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