Zimmer Partners LP Increases Holdings in Southwest Gas Corporation $SWX

Zimmer Partners LP raised its stake in shares of Southwest Gas Corporation (NYSE:SWX) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,021,956 shares of the utilities provider’s stock after buying an additional 111,341 shares during the period. Southwest Gas comprises approximately 1.4% of Zimmer Partners LP’s holdings, making the stock its 23rd largest position. Zimmer Partners LP owned approximately 1.42% of Southwest Gas worth $73,376,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in shares of Southwest Gas by 1,055.0% during the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 422 shares during the period. Headlands Technologies LLC boosted its holdings in Southwest Gas by 144.0% in the 1st quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider’s stock worth $37,000 after buying an additional 301 shares during the period. Golden State Wealth Management LLC boosted its holdings in Southwest Gas by 1,001.8% in the 1st quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider’s stock worth $44,000 after buying an additional 551 shares during the period. Quarry LP lifted its stake in Southwest Gas by 118.3% in the 1st quarter. Quarry LP now owns 751 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 407 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Southwest Gas by 41.2% in the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 243 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

Southwest Gas Stock Down 1.5%

Shares of NYSE SWX opened at $77.46 on Tuesday. Southwest Gas Corporation has a 12-month low of $64.69 and a 12-month high of $80.54. The stock has a market cap of $5.58 billion, a PE ratio of 28.90, a P/E/G ratio of 2.03 and a beta of 0.55. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average of $77.65 and a 200 day moving average of $74.39.

Southwest Gas (NYSE:SWX) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. Southwest Gas had a net margin of 4.06% and a return on equity of 6.98%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted $0.25 EPS. Southwest Gas’s revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

SWX has been the topic of several recent research reports. Bank of America upgraded shares of Southwest Gas from a “neutral” rating to a “buy” rating and upped their target price for the company from $76.00 to $84.00 in a research report on Friday, August 29th. Jefferies Financial Group raised Southwest Gas from a “hold” rating to a “buy” rating and lifted their target price for the company from $74.00 to $82.00 in a research report on Tuesday, July 8th. JPMorgan Chase & Co. dropped their price objective on shares of Southwest Gas from $79.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $79.75.

Southwest Gas Profile

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.