Zacks Investment Research Upgrades WGL (WGL) to “Buy”

WGL (NYSE:WGL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $95.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.56% from the company’s previous close.

According to Zacks, “WGL Holdings, Inc. is a leading source for clean, efficient and diverse energy solutions. With activities and assets across the U.S., WGL consists of Washington Gas, WGL Energy, WGL Midstream and Hampshire Gas. WGL provides natural gas, electricity, green power and energy services, including generation, storage, transportation, distribution, supply and efficiency. Their calling as a company is to make energy surprisingly easy for their employees, their community and all their customers. The company had approximately 577 miles of transmission mains; 12,990 miles of distribution mains; and 12,572 miles of distribution services, as well as served approximately 133,000 natural gas customers and approximately 127,400 electricity customers in Maryland, Virginia, Delaware, Pennsylvania, and the District of Columbia. “

WGL (NYSE WGL) traded down $0.10 during trading hours on Thursday, reaching $84.40. The company’s stock had a trading volume of 204,000 shares, compared to its average volume of 266,544. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.95. WGL has a twelve month low of $78.35 and a twelve month high of $86.89. The stock has a market capitalization of $4,339.29, a P/E ratio of 22.57, a P/E/G ratio of 3.91 and a beta of 0.66.

WGL (NYSE:WGL) last released its earnings results on Friday, November 17th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. WGL had a return on equity of 10.95% and a net margin of 8.21%. The business had revenue of $429.12 million during the quarter, compared to the consensus estimate of $479.60 million. analysts forecast that WGL will post 3.61 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in shares of WGL in the third quarter worth $312,000. Heritage Investors Management Corp boosted its holdings in shares of WGL by 41.4% in the third quarter. Heritage Investors Management Corp now owns 3,799 shares of the utilities provider’s stock worth $320,000 after acquiring an additional 1,112 shares during the period. Shelton Capital Management bought a new position in shares of WGL in the second quarter worth $322,000. Institute for Wealth Management LLC. bought a new position in shares of WGL in the second quarter worth $338,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of WGL in the third quarter worth $358,000. 71.49% of the stock is owned by hedge funds and other institutional investors.

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WGL 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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