Barclays Maintains an 'Underweight' on WGL Holdings (WGL); Solid Quarter; Rate Case Update

Barclays maintains an 'Underweight' on WGL Holdings (NYSE: WGL) price target raised $2 to $38.

Barclays analyst says, "Recurring EPS of -$0.26 came in above Barclays Capital and consensus expectations for -$0.34 as yr/yr declines at the Regulated Utility was more than offset by gains at Retail Energy-Marketing and Design-Build Energy Systems. Full-year 2011 earnings came in at $2.25, exceeding the $2.12-$2.24 range last provided by the company."

"Update on Rate Cases: A revenue increase of $8.4 million tied to the Maryland rate case was below our expectation for $15 million although we'd note there is a
possibility that the company requests a rehearing. The VA rate case appears to be headed for a settlement and the associated filing with details is expected by end of November while a rate application for DC is expected to be submitted by 1/31/12."

For an analyst ratings summary and ratings history on WGL Holdings click here. For more ratings news on WGL Holdings click here.

Shares of WGL Holdings closed at $41.26 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla to launch Cybercab in Austin this month - report
• Royal Unibrew reports higher interim first-half profit as margins improve
• Is Treasury selloff a major issue for stock market bulls?