Creative Planning cut its stake in shares of WGL Holdings Inc (NYSE:WGL) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,395 shares of the utilities provider’s stock after selling 81 shares during the period. Creative Planning’s holdings in WGL Holdings were worth $1,618,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in WGL. Madden Advisory Services Inc. purchased a new position in shares of WGL Holdings during the first quarter valued at $191,000. TD Asset Management Inc. purchased a new position in shares of WGL Holdings during the first quarter valued at $204,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of WGL Holdings during the first quarter valued at $206,000. Raymond James Trust N.A. purchased a new position in shares of WGL Holdings during the first quarter valued at $210,000. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of WGL Holdings during the first quarter valued at $228,000. 68.04% of the stock is owned by hedge funds and other institutional investors.
Shares of WGL Holdings Inc (NYSE:WGL) opened at 83.80 on Monday. The stock has a market cap of $4.29 billion, a PE ratio of 24.68 and a beta of 0.66. The firm has a 50-day moving average price of $83.17 and a 200 day moving average price of $81.69. WGL Holdings Inc has a 12-month low of $58.66 and a 12-month high of $84.54.
WGL Holdings (NYSE:WGL) last announced its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by $0.10. The business had revenue of $841.80 million during the quarter, compared to analysts’ expectations of $899.14 million. WGL Holdings had a return on equity of 12.25% and a net margin of 7.46%. The firm’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 earnings per share. Equities research analysts predict that WGL Holdings Inc will post $3.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, July 6th. WGL Holdings’s dividend payout ratio is currently 60.18%.
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WGL has been the subject of several analyst reports. BidaskClub raised shares of WGL Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Zacks Investment Research downgraded shares of WGL Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $76.75.
In related news, Director Debra L. Lee sold 2,800 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.99% of the stock is currently owned by corporate insiders.
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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