Municipal Employees Retirement System of Michigan decreased its stake in WGL Holdings Inc (NYSE:WGL) by 21.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,490 shares of the utilities provider’s stock after selling 4,280 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in WGL Holdings were worth $1,304,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Swiss National Bank lifted its position in WGL Holdings by 3.5% in the 3rd quarter. Swiss National Bank now owns 91,100 shares of the utilities provider’s stock worth $7,671,000 after buying an additional 3,100 shares in the last quarter. Principal Financial Group Inc. lifted its position in WGL Holdings by 0.4% in the 3rd quarter. Principal Financial Group Inc. now owns 216,516 shares of the utilities provider’s stock worth $18,231,000 after buying an additional 794 shares in the last quarter. IndexIQ Advisors LLC lifted its position in WGL Holdings by 18.5% in the 3rd quarter. IndexIQ Advisors LLC now owns 27,884 shares of the utilities provider’s stock worth $2,348,000 after buying an additional 4,353 shares in the last quarter. State of Wisconsin Investment Board lifted its position in WGL Holdings by 214.9% in the 3rd quarter. State of Wisconsin Investment Board now owns 247,201 shares of the utilities provider’s stock worth $20,814,000 after buying an additional 168,701 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in WGL Holdings in the 3rd quarter worth approximately $3,011,000. Institutional investors own 70.41% of the company’s stock.
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A number of research firms have issued reports on WGL. Zacks Investment Research upgraded shares of WGL Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. BidaskClub downgraded shares of WGL Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Finally, Hilliard Lyons upgraded shares of WGL Holdings from an “underperform” rating to a “neutral” rating in a research report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $76.50.
In other news, Director Debra L. Lee sold 2,122 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $84.00, for a total transaction of $178,248.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.99% of the stock is currently owned by company insiders.
WGL Holdings Inc (WGL) opened at $84.32 on Monday. The firm has a market cap of $4,318.79, a price-to-earnings ratio of 26.35, a PEG ratio of 3.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.51 and a current ratio of 0.67. WGL Holdings Inc has a twelve month low of $64.24 and a twelve month high of $86.89.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, October 6th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.42%. WGL Holdings’s dividend payout ratio is currently 54.55%.
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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