Jefferies Group LLC Reiterates “Hold” Rating for Southwest Gas Corporation (SWX)

Southwest Gas Corporation (NYSE:SWX)‘s stock had its “hold” rating reiterated by Jefferies Group LLC in a research report issued to clients and investors on Monday. They presently have a $70.00 price objective on the utilities provider’s stock. Jefferies Group LLC’s target price suggests a potential downside of 11.55% from the stock’s current price.

SWX has been the topic of a number of other research reports. BidaskClub lowered shares of Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Southwest Gas Corporation in a report on Friday, September 1st. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Southwest Gas Corporation has a consensus rating of “Hold” and an average target price of $78.00.

Shares of Southwest Gas Corporation (SWX) opened at 79.14 on Monday. Southwest Gas Corporation has a 52-week low of $66.84 and a 52-week high of $86.65. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 24.50 and a beta of 0.60. The company’s 50 day moving average is $79.05 and its 200 day moving average is $79.54.

Southwest Gas Corporation (NYSE:SWX) last posted its earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.09. The business had revenue of $560.50 million for the quarter, compared to analyst estimates of $564.84 million. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. Southwest Gas Corporation’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. Analysts anticipate that Southwest Gas Corporation will post $3.44 earnings per share for the current year.

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In other Southwest Gas Corporation news, VP Kenneth J. Kenny sold 600 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $80.90, for a total value of $48,540.00. Following the completion of the transaction, the vice president now owns 17,137 shares of the company’s stock, valued at approximately $1,386,383.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Karen S. Haller sold 1,300 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.95, for a total transaction of $105,235.00. Following the completion of the transaction, the senior vice president now directly owns 26,639 shares of the company’s stock, valued at approximately $2,156,427.05. The disclosure for this sale can be found here. 0.99% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in SWX. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Southwest Gas Corporation by 7.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock worth $126,000 after buying an additional 118 shares in the last quarter. Flinton Capital Management LLC grew its stake in Southwest Gas Corporation by 69.7% in the 2nd quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock worth $177,000 after buying an additional 992 shares in the last quarter. Riverhead Capital Management LLC grew its stake in Southwest Gas Corporation by 74.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock worth $204,000 after buying an additional 1,197 shares in the last quarter. GW&K Investment Management LLC purchased a new position in Southwest Gas Corporation in the 2nd quarter worth approximately $205,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Southwest Gas Corporation in the 2nd quarter worth approximately $213,000. 76.81% of the stock is owned by institutional investors and hedge funds.

About Southwest Gas Corporation

Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc (Centuri).

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