Suntrust Banks Inc. trimmed its holdings in WGL Holdings Inc (NYSE:WGL) by 9.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,245 shares of the utilities provider’s stock after selling 348 shares during the quarter. Suntrust Banks Inc.’s holdings in WGL Holdings were worth $269,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in WGL. BlackRock Inc. lifted its holdings in shares of WGL Holdings by 3,986.0% in the 1st quarter. BlackRock Inc. now owns 5,449,997 shares of the utilities provider’s stock worth $449,789,000 after acquiring an additional 5,316,615 shares during the last quarter. State Street Corp lifted its holdings in shares of WGL Holdings by 4.6% in the 1st quarter. State Street Corp now owns 4,025,759 shares of the utilities provider’s stock worth $332,254,000 after acquiring an additional 177,248 shares during the last quarter. Sentry Investments Corp. bought a new stake in shares of WGL Holdings in the 2nd quarter worth approximately $14,534,000. FMR LLC bought a new stake in shares of WGL Holdings in the 2nd quarter worth approximately $12,808,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of WGL Holdings by 15.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 837,443 shares of the utilities provider’s stock worth $69,868,000 after acquiring an additional 114,947 shares during the last quarter. Hedge funds and other institutional investors own 69.05% of the company’s stock.
Shares of WGL Holdings Inc (WGL) opened at 85.54 on Tuesday. The company’s 50-day moving average is $84.60 and its 200-day moving average is $83.76. WGL Holdings Inc has a 12-month low of $59.07 and a 12-month high of $86.89. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 24.36 and a beta of 0.68.
WGL Holdings (NYSE:WGL) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $474.36 million during the quarter, compared to the consensus estimate of $477.01 million. WGL Holdings had a return on equity of 11.76% and a net margin of 7.60%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share. Analysts predict that WGL Holdings Inc will post $3.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a $0.51 dividend. The ex-dividend date is Friday, October 6th. This represents a $2.04 dividend on an annualized basis and a yield of 2.38%. WGL Holdings’s dividend payout ratio is presently 58.12%.
A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of WGL Holdings from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research upgraded shares of WGL Holdings from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, Hilliard Lyons upgraded shares of WGL Holdings from an “underperform” rating to a “neutral” rating in a report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $74.67.
In related news, Director Debra L. Lee sold 2,122 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $84.00, for a total value of $178,248.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.99% of the stock is owned by company 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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