Commerce Bank maintained its stake in shares of WGL Holdings Inc (NYSE:WGL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,788 shares of the utilities provider’s stock at the end of the second quarter. Commerce Bank’s holdings in WGL Holdings were worth $233,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Driehaus Capital Management LLC bought a new position in shares of WGL Holdings during the first quarter valued at $3,514,000. Bank of America Corp DE raised its stake in shares of WGL Holdings by 3.5% during the first quarter. Bank of America Corp DE now owns 218,575 shares of the utilities provider’s stock valued at $18,039,000 after acquiring an additional 7,426 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of WGL Holdings by 13.2% during the first quarter. Prudential Financial Inc. now owns 47,868 shares of the utilities provider’s stock valued at $3,951,000 after acquiring an additional 5,590 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of WGL Holdings during the first quarter valued at $337,000. Finally, State of Wisconsin Investment Board bought a new position in shares of WGL Holdings during the first quarter valued at $3,615,000. 69.13% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the stock. BidaskClub raised shares of WGL Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of WGL Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Hilliard Lyons raised shares of WGL Holdings from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 29th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.75.
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WGL Holdings Inc (NYSE:WGL) opened at 84.29 on Wednesday. WGL Holdings Inc has a 1-year low of $58.66 and a 1-year high of $86.89. The company has a market cap of $4.32 billion, a P/E ratio of 24.01 and a beta of 0.69. The stock’s 50 day moving average is $84.72 and its 200 day moving average is $83.45.
WGL Holdings (NYSE:WGL) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01). WGL Holdings had a net margin of 7.60% and a return on equity of 11.76%. The business had revenue of $474.36 million during the quarter, compared to analysts’ expectations of $477.01 million. During the same period last year, the company posted $0.33 EPS. WGL Holdings’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts anticipate that WGL Holdings Inc will post $3.18 earnings per share for the current fiscal year.
In other news, Director Debra L. Lee sold 3,615 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $83.66, for a total value of $302,430.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.99% of the stock is currently 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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