Southwest Gas (NYSE:SWX) had its target price boosted by Williams Capital from $74.00 to $78.00 in a research note issued to investors on Monday morning, Marketbeat reports. Williams Capital currently has a hold rating on the utilities provider’s stock.
Several other equities research analysts have also recently commented on SWX. ValuEngine cut shares of Southwest Gas from a buy rating to a hold rating in a research report on Tuesday, November 27th. Zacks Investment Research cut shares of Southwest Gas from a strong-buy rating to a hold rating in a research report on Friday, October 19th. Bank of America set a $76.00 target price on shares of Southwest Gas and gave the stock a sell rating in a research report on Wednesday, October 3rd. Finally, Citigroup increased their price target on shares of Southwest Gas from $73.00 to $80.00 and gave the stock a hold rating in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $79.00.
NYSE:SWX opened at $81.16 on Monday. Southwest Gas has a 12 month low of $62.53 and a 12 month high of $85.97. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $3.98 billion, a PE ratio of 22.42, a P/E/G ratio of 5.35 and a beta of 0.40.
Southwest Gas (NYSE:SWX) last posted its earnings results on Tuesday, November 6th. The utilities provider reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.11. Southwest Gas had a net margin of 7.39% and a return on equity of 10.01%. The firm had revenue of $668.10 million during the quarter, compared to analysts’ expectations of $224.00 million. During the same period last year, the company posted $0.21 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, research analysts forecast that Southwest Gas will post 3.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 15th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.56%. Southwest Gas’s payout ratio is 57.46%.
In related news, VP Kenneth J. Kenny sold 500 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $82.67, for a total value of $41,335.00. Following the completion of the transaction, the vice president now directly owns 15,509 shares in the company, valued at approximately $1,282,129.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.99% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of SWX. Alliancebernstein L.P. increased its stake in shares of Southwest Gas by 60.2% in the 3rd quarter. Alliancebernstein L.P. now owns 1,104,381 shares of the utilities provider’s stock worth $87,279,000 after acquiring an additional 414,823 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Southwest Gas during the 2nd quarter valued at about $20,463,000. Macquarie Group Ltd. increased its stake in Southwest Gas by 11.1% during the 2nd quarter. Macquarie Group Ltd. now owns 2,021,062 shares of the utilities provider’s stock valued at $154,147,000 after purchasing an additional 201,626 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in Southwest Gas during the 3rd quarter valued at about $14,744,000. Finally, BlackRock Inc. increased its stake in Southwest Gas by 2.7% during the 3rd quarter. BlackRock Inc. now owns 5,860,794 shares of the utilities provider’s stock valued at $463,182,000 after purchasing an additional 156,432 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.
About Southwest Gas
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.
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