Raymond James Financial Services Advisors Inc. raised its stake in WGL Holdings Inc (NYSE:WGL) by 180.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,687 shares of the company’s stock after buying an additional 24,246 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in WGL Holdings were worth $2,875,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of WGL. State of Alaska Department of Revenue acquired a new position in shares of WGL Holdings during the third quarter valued at about $123,000. LS Investment Advisors LLC increased its position in shares of 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. World Asset Management Inc acquired a new position in shares of WGL Holdings during the third quarter valued at about $207,000. Paragon Capital Management LLC increased its position in shares of WGL Holdings by 0.7% in the third quarter. Paragon Capital Management LLC now owns 3,499 shares of the company’s stock valued at $219,000 after buying an additional 24 shares during the last quarter. Finally, BB&T Securities LLC increased its position in shares of WGL Holdings by 9.7% in the third quarter. BB&T Securities LLC now owns 4,516 shares of the company’s stock valued at $283,000 after buying an additional 401 shares during the last quarter. 66.60% of the stock is currently owned by institutional investors.
WGL Holdings Inc (NYSE:WGL) traded up 0.04% during mid-day trading on Monday, reaching $83.30. 335,621 shares of the company were exchanged. The stock has a market capitalization of $4.27 billion, a P/E ratio of 26.94 and a beta of 0.60. The company’s 50 day moving average price is $79.15 and its 200-day moving average price is $68.97. WGL Holdings Inc has a 12 month low of $58.66 and a 12 month high of $83.79.
WGL Holdings (NYSE:WGL) last released its earnings results on Wednesday, February 8th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates 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 business posted $1.18 earnings per share. On average, equities analysts expect that WGL Holdings Inc will post $3.40 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Thursday, April 6th. This is a positive change from WGL Holdings’s previous quarterly dividend of $0.49. WGL Holdings’s payout ratio is 62.70%.
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Several analysts have recently weighed in on WGL shares. Zacks Investment Research raised shares of WGL Holdings from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Wednesday, January 11th. Janney Montgomery Scott downgraded shares of WGL Holdings from a “buy” rating to a “neutral” rating in a report on Tuesday, November 29th. Seaport Global Securities started coverage on shares of WGL Holdings in a report on Friday, December 2nd. They issued a “neutral” rating and a $71.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of WGL Holdings in a report on Thursday, December 1st. Six investment analysts have rated the stock with a hold rating, The company 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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