Southwest Gas Corporation (NYSE:SWX) Given Consensus Recommendation of “Moderate Buy” by Analysts
by Scott Moore · The Cerbat GemShares of Southwest Gas Corporation (NYSE:SWX – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $84.50.
Several brokerages have recently issued reports on SWX. Jefferies Financial Group raised their target price on shares of Southwest Gas from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Mizuho started coverage on shares of Southwest Gas in a report on Wednesday, October 29th. They issued an “outperform” rating and a $91.00 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Southwest Gas in a research report on Monday. Zacks Research raised Southwest Gas from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Bank of America raised Southwest Gas from a “neutral” rating to a “buy” rating and raised their price target for the stock from $76.00 to $84.00 in a research report on Friday, August 29th.
Get Our Latest Stock Analysis on SWX
Insider Buying and Selling at Southwest Gas
In related news, major shareholder Carl C. Icahn sold 1,500,000 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $77.91, for a total transaction of $116,865,000.00. Following the completion of the transaction, the insider directly owned 6,032,604 shares in the company, valued at $470,000,177.64. This represents a 19.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.51% of the company’s stock.
Institutional Trading of Southwest Gas
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirabella Financial Services LLP bought a new position in Southwest Gas during the third quarter valued at $228,000. Hudson Bay Capital Management LP purchased a new stake in Southwest Gas in the third quarter valued at approximately $5,668,000. Swiss Life Asset Management Ltd bought a new stake in shares of Southwest Gas during the 3rd quarter worth $212,000. CIBC Bancorp USA Inc. bought a new stake in Southwest Gas during the third quarter worth about $541,000. Finally, Coldstream Capital Management Inc. purchased a new stake in Southwest Gas in the third quarter worth approximately $406,000. 92.77% of the stock is owned by institutional investors.
Southwest Gas Stock Up 1.2%
Southwest Gas stock traded up $0.98 during mid-day trading on Wednesday, hitting $82.62. 37,726 shares of the company’s stock were exchanged, compared to its average volume of 411,033. Southwest Gas has a 1-year low of $64.69 and a 1-year high of $83.11. The stock has a 50 day moving average of $80.18 and a two-hundred day moving average of $78.00. The stock has a market cap of $5.96 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.68 and a beta of 0.63. The company has a current ratio of 1.55, a quick ratio of 1.43 and a debt-to-equity ratio of 0.89.
Southwest Gas (NYSE:SWX – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $316.91 million for the quarter, compared to the consensus estimate of $1.08 billion. Southwest Gas had a net margin of 11.59% and a return on equity of 6.78%. The company’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, analysts anticipate that Southwest Gas will post 3.03 EPS for the current fiscal year.
Southwest Gas Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be paid a $0.62 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.48 annualized dividend and a yield of 3.0%. Southwest Gas’s dividend payout ratio is currently 38.63%.
Southwest Gas Company 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.
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