Southwest Gas (NYSE:SWX) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Southwest Gas (NYSE:SWX) posted its quarterly earnings data on Monday. The utilities provider reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01), Zacks reports. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%.

Southwest Gas Price Performance

Southwest Gas stock opened at $72.40 on Monday. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 3.16 and a beta of 0.48. The business’s 50 day simple moving average is $72.77 and its 200 day simple moving average is $73.71. Southwest Gas has a 12 month low of $64.31 and a 12 month high of $80.29. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.48 annualized dividend and a yield of 3.43%. Southwest Gas’s payout ratio is 90.18%.

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn sold 2,100,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.60, for a total value of $156,660,000.00. Following the transaction, the insider now owns 7,532,604 shares of the company’s stock, valued at approximately $561,932,258.40. This represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SWX. StockNews.com upgraded Southwest Gas from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Jefferies Financial Group began coverage on Southwest Gas in a report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price objective for the company. Finally, LADENBURG THALM/SH SH upgraded Southwest Gas to a “strong-buy” rating in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.00.

About Southwest Gas

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.