Envestnet Asset Management Inc. decreased its stake in WGL Holdings Inc (NYSE:WGL) by 9.6% during the fourth quarter, Holdings Channel reports. The fund owned 2,396 shares of the company’s stock after selling 255 shares during the period. Envestnet Asset Management Inc.’s holdings in WGL Holdings were worth $184,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in WGL Holdings during the third quarter valued at about $123,000. Elkfork Partners LLC bought a new stake in WGL Holdings during the fourth quarter valued at about $211,000. Gideon Capital Advisors Inc. bought a new stake in WGL Holdings during the fourth quarter valued at about $240,000. Private Advisor Group LLC bought a new stake in WGL Holdings during the fourth quarter valued at about $241,000. Finally, LS Investment Advisors LLC increased its stake 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. Hedge funds and other institutional investors own 66.60% of the company’s stock.
Shares of WGL Holdings Inc (NYSE:WGL) opened at 82.53 on Friday. The company has a 50 day moving average price of $82.90 and a 200 day moving average price of $73.17. The company has a market cap of $4.23 billion, a PE ratio of 26.69 and a beta of 0.60. WGL Holdings Inc has a 52 week low of $58.66 and a 52 week high of $84.08.
WGL Holdings (NYSE:WGL) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by $0.04. WGL Holdings had a net margin of 6.77% and a return on equity of 12.10%. During the same period in the prior year, the firm posted $1.18 earnings per share. On average, equities analysts expect that WGL Holdings Inc will post $3.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $2.04 dividend on an annualized basis and a yield of 2.47%. This is a boost from WGL Holdings’s previous quarterly dividend of $0.49. WGL Holdings’s dividend payout ratio (DPR) is 62.70%.
A number of equities analysts have recently weighed in on WGL shares. Zacks Investment Research upgraded WGL Holdings from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Saturday, December 31st. Seaport Global Securities started coverage on WGL Holdings in a report on Friday, December 2nd. They issued a “neutral” rating and a $71.00 target price on the stock. Finally, Hilliard Lyons downgraded WGL Holdings from a “neutral” rating to an “underperform” rating in a report on Wednesday, March 15th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. WGL Holdings currently has a consensus rating of “Hold” and a consensus target price of $75.00.
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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