P Schoenfeld Asset Management LP bought a new position in shares of WGL Holdings Inc (NYSE:WGL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 360,463 shares of the utilities provider’s stock, valued at approximately $29,749,000. WGL Holdings comprises approximately 2.3% of P Schoenfeld Asset Management LP’s holdings, making the stock its 12th largest position.
A number of other hedge funds have also recently added to or reduced their stakes in WGL. TD Asset Management Inc. purchased a new stake in WGL Holdings during the first quarter worth $204,000. Raymond James Trust N.A. purchased a new stake in WGL Holdings during the first quarter worth $210,000. Elkfork Partners LLC purchased a new stake in WGL Holdings during the fourth quarter worth $211,000. Gideon Capital Advisors Inc. purchased a new stake in WGL Holdings during the fourth quarter worth $240,000. Finally, Private Advisor Group LLC purchased a new stake in WGL Holdings during the fourth quarter worth $241,000. 66.60% of the stock is owned by institutional investors and hedge funds.
Shares of WGL Holdings Inc (NYSE:WGL) traded down 0.18% during mid-day trading on Friday, hitting $82.41. 184,233 shares of the stock traded hands. The firm’s 50-day moving average is $82.53 and its 200-day moving average is $78.39. WGL Holdings Inc has a 52 week low of $58.66 and a 52 week high of $84.08. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 24.27 and a beta of 0.60.
WGL Holdings (NYSE:WGL) last posted its earnings results on Tuesday, May 2nd. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.97 by $0.10. WGL Holdings had a net margin of 6.77% and a return on equity of 12.10%. The business had revenue of $841.80 million for the quarter, compared to analysts’ expectations of $899.14 million. During the same period last year, the firm posted $1.78 earnings per share. WGL Holdings’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts forecast that WGL Holdings Inc will post $3.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders 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 annualized dividend and a dividend yield of 2.48%. WGL Holdings’s dividend payout ratio (DPR) is presently 62.70%.
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Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of WGL Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Hilliard Lyons downgraded shares of WGL Holdings from a “neutral” rating to an “underperform” rating in a research report on Wednesday, March 15th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. WGL Holdings presently has an average rating of “Hold” and an average price target of $75.00.
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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