Principal Financial Group Inc. boosted its stake in WGL Holdings Inc (NYSE:WGL) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 209,872 shares of the utilities provider’s stock after buying an additional 4,621 shares during the period. Principal Financial Group Inc. owned approximately 0.41% of WGL Holdings worth $17,321,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of WGL. JPMorgan Chase & Co. boosted its position 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 during the period. P Schoenfeld Asset Management LP bought a new position in WGL Holdings during the first quarter worth approximately $29,749,000. Norges Bank bought a new position in WGL Holdings during the fourth quarter worth approximately $18,680,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in WGL Holdings by 2,936.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 230,123 shares of the utilities provider’s stock worth $18,992,000 after buying an additional 222,545 shares during the period. Finally, Nuance Investments LLC bought a new position in WGL Holdings during the first quarter worth approximately $13,694,000. 68.04% of the stock is owned by institutional investors and hedge funds.
WGL Holdings Inc (NYSE:WGL) opened at 83.65 on Friday. WGL Holdings Inc has a 12-month low of $58.66 and a 12-month high of $84.54. The company has a market cap of $4.28 billion, a PE ratio of 24.63 and a beta of 0.65. The stock has a 50 day moving average of $83.00 and a 200-day moving average of $81.35.
WGL Holdings (NYSE:WGL) last released its earnings results on Tuesday, May 2nd. The utilities provider reported $1.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.97 by $0.10. WGL Holdings had a return on equity of 12.25% and a net margin of 7.46%. The firm had revenue of $841.80 million during the quarter, compared to the consensus estimate of $899.14 million. During the same quarter in the previous year, the firm earned $1.78 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts anticipate that WGL Holdings Inc will post $3.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be issued 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 dividend yield of 2.44%. WGL Holdings’s dividend payout ratio is presently 60.18%.
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A number of research analysts have recently commented on WGL shares. Hilliard Lyons cut shares of WGL Holdings from a “neutral” rating to an “underperform” rating in a report on Wednesday, March 15th. Zacks Investment Research cut shares of WGL Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, BidaskClub raised shares of WGL Holdings from a “strong sell” rating to a “sell” rating in a report on Saturday, June 17th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. WGL Holdings presently has a consensus rating of “Hold” and an average price target of $75.00.
In related news, Director Debra L. Lee sold 2,800 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $82.94, for a total value of $232,232.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.09% of the stock is owned by corporate insiders.
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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