Analysts Set WGL Holdings Inc (WGL) Target Price at $71.00

WGL Holdings Inc (NYSE:WGL) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $71.00.

WGL has been the subject of a number of analyst reports. Hilliard Lyons lowered shares of WGL Holdings from a “neutral” rating to an “underperform” rating in a research note on Wednesday, March 15th. Zacks Investment Research lowered shares of WGL Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Finally, BidaskClub upgraded shares of WGL Holdings from a “strong sell” rating to a “sell” rating in a research note on Saturday.

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In other WGL Holdings news, Director Debra L. Lee sold 3,615 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.09% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake 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 in the last quarter. State Street Corp raised its stake 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 in the last quarter. Bank of New York Mellon Corp raised its stake in WGL Holdings by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 1,108,788 shares of the utilities provider’s stock worth $91,509,000 after buying an additional 50,835 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 in the last quarter. Finally, Geode Capital Management LLC raised its stake in WGL Holdings by 14.0% in the first quarter. Geode Capital Management LLC now owns 410,279 shares of the utilities provider’s stock worth $33,860,000 after buying an additional 50,288 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

WGL Holdings (NYSE:WGL) traded up 0.30% during trading on Tuesday, hitting $84.30. The stock had a trading volume of 649,288 shares. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 24.82 and a beta of 0.65. WGL Holdings has a 1-year low of $58.66 and a 1-year high of $84.55. The firm’s 50 day moving average is $82.93 and its 200 day moving average is $81.09.

WGL Holdings (NYSE:WGL) last issued its quarterly earnings results 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 analysts’ expectations of $899.14 million. WGL Holdings had a net margin of 7.46% and a return on equity of 12.25%. The company’s revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $1.78 earnings per share. On average, analysts anticipate that WGL Holdings will post $3.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be paid 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 2.42%. WGL Holdings’s dividend payout ratio is currently 60.18%.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “WGL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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