HL Financial Services LLC lowered its position in shares of WGL Holdings Inc (NYSE:WGL) by 17.1% during the second quarter, Holdings Channel reports. The institutional investor owned 4,690 shares of the utilities provider’s stock after selling 967 shares during the period. HL Financial Services LLC’s holdings in WGL Holdings were worth $391,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of WGL. Madden Advisory Services Inc. acquired a new position in shares of WGL Holdings during the first quarter worth about $191,000. TD Asset Management Inc. acquired a new position in shares of WGL Holdings during the first quarter worth about $204,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of WGL Holdings during the first quarter worth about $206,000. Raymond James Trust N.A. acquired a new position in shares of WGL Holdings during the first quarter worth about $210,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of WGL Holdings during the first quarter worth about $228,000. Hedge funds and other institutional investors own 67.89% of the company’s stock.
WGL Holdings Inc (NYSE:WGL) opened at 84.82 on Tuesday. The stock’s 50 day moving average is $84.54 and its 200-day moving average is $83.24. The firm has a market capitalization of $4.34 billion, a PE ratio of 24.16 and a beta of 0.67. WGL Holdings Inc has a one year low of $58.66 and a one year high of $86.89.
WGL Holdings (NYSE:WGL) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $474.36 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $0.33 earnings per share. On average, analysts anticipate that WGL Holdings Inc will post $3.18 EPS for the current fiscal year.
A number of research analysts have recently issued reports on WGL shares. BidaskClub upgraded shares of WGL Holdings from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research upgraded shares of WGL Holdings from a “sell” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $76.75.
In other news, Director Debra L. Lee sold 3,615 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $83.66, for a total value of $302,430.90. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.99% of the stock is 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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