WGL Holdings Inc (NYSE:WGL) announced a quarterly dividend on Friday, September 22nd, Wall Street Journal reports. Investors of record on Tuesday, October 10th will be paid a dividend of 0.51 per share by the utilities provider on Wednesday, November 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Friday, October 6th.

WGL Holdings has increased its dividend payment by an average of 5.1% per year over the last three years and has increased its dividend every year for the last 40 years. WGL Holdings has a payout ratio of 64.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect WGL Holdings to earn $3.51 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 58.1%.

Shares of WGL Holdings (NYSE WGL) opened at 84.75 on Thursday. The company has a market capitalization of $4.34 billion, a P/E ratio of 24.14 and a beta of 0.68. The company has a 50-day moving average price of $84.28 and a 200-day moving average price of $83.62. WGL Holdings has a 12 month low of $58.66 and a 12 month high of $86.89.

WGL Holdings (NYSE:WGL) last released its quarterly earnings data 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 company had revenue of $474.36 million for the quarter, compared to analyst estimates of $477.01 million. WGL Holdings had a return on equity of 11.76% and a net margin of 7.60%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. On average, analysts forecast that WGL Holdings will post $3.21 EPS for the current fiscal year.

In other news, Director Debra L. Lee sold 2,122 shares of the company’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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.09% of the company’s stock.

A number of research firms have weighed in on WGL. Hilliard Lyons raised WGL Holdings from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 29th. Zacks Investment Research raised WGL Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Finally, BidaskClub lowered WGL Holdings from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. WGL Holdings currently has an average rating of “Hold” and a consensus target price of $74.67.

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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.

Dividend History for WGL Holdings (NYSE:WGL)

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