Shelton Capital Management Invests $322,000 in WGL Holdings Inc (WGL) Stock
Shelton Capital Management acquired a new position in WGL Holdings Inc (NYSE:WGL) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,860 shares of the utilities provider’s stock, valued at approximately $322,000.
Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of WGL Holdings by 7.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,756 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 128 shares in the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of WGL Holdings during the 2nd quarter worth about $203,000. TD Asset Management Inc. purchased a new stake in shares of WGL Holdings during the 1st quarter worth about $204,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of WGL Holdings during the 1st quarter worth about $206,000. Finally, FNY Partners Fund LP purchased a new stake in shares of WGL Holdings during the 1st quarter worth about $247,000. 69.05% of the stock is owned by hedge funds and other institutional investors.
WGL Holdings Inc (NYSE:WGL) opened at 85.45 on Friday. WGL Holdings Inc has a one year low of $59.07 and a one year high of $86.89. The stock’s 50 day moving average price is $84.58 and its 200-day moving average price is $83.75. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 24.34 and a beta of 0.68.
WGL Holdings (NYSE:WGL) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). WGL Holdings had a return on equity of 11.76% and a net margin of 7.60%. The company had revenue of $474.36 million for the quarter, compared to the consensus estimate of $477.01 million. During the same quarter in the previous year, the company posted $0.33 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that WGL Holdings Inc will post $3.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, October 6th. This represents a $2.04 annualized dividend and a yield of 2.39%. WGL Holdings’s payout ratio is presently 58.12%.
In related news, Director Debra L. Lee sold 2,122 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $84.00, for a total transaction of $178,248.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.09% of the company’s stock.
A number of equities research analysts have recently weighed in on WGL shares. BidaskClub raised WGL Holdings from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 17th. Zacks Investment Research downgraded WGL Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Hilliard Lyons raised WGL Holdings from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $74.67.
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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