Southwest Gas Corporation (NYSE:SWX) has received a consensus rating of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $81.00.
Several research firms have weighed in on SWX. UBS AG upped their price objective on Southwest Gas Corporation from $83.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday. Zacks Investment Research raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. BidaskClub cut Southwest Gas Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price objective on shares of Southwest Gas Corporation in a report on Monday, October 16th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Southwest Gas Corporation in a report on Friday, October 20th.
Southwest Gas Corporation (NYSE SWX) traded down $1.72 during mid-day trading on Monday, reaching $80.08. The company’s stock had a trading volume of 256,000 shares, compared to its average volume of 263,833. Southwest Gas Corporation has a 1-year low of $70.68 and a 1-year high of $86.65. The company has a quick ratio of 0.99, a current ratio of 0.82 and a debt-to-equity ratio of 1.01. The company has a market cap of $3,904.47, a P/E ratio of 24.06, a price-to-earnings-growth ratio of 3.71 and a beta of 0.61.
Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings results on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.07. Southwest Gas Corporation had a return on equity of 9.56% and a net margin of 6.64%. The business had revenue of $593.15 million during the quarter, compared to the consensus estimate of $579.40 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. equities analysts predict that Southwest Gas Corporation will post 3.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.98 annualized dividend and a dividend yield of 2.47%. Southwest Gas Corporation’s dividend payout ratio (DPR) is 58.24%.
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Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Southwest Gas Corporation by 40.5% during the 3rd quarter. Wells Fargo & Company MN now owns 159,778 shares of the utilities provider’s stock worth $12,402,000 after acquiring an additional 46,071 shares in the last quarter. Virginia Retirement Systems ET AL raised its holdings in shares of Southwest Gas Corporation by 45.5% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 25,600 shares of the utilities provider’s stock worth $1,987,000 after acquiring an additional 8,000 shares in the last quarter. Legal & General Group Plc raised its holdings in Southwest Gas Corporation by 8.9% during the 3rd quarter. Legal & General Group Plc now owns 155,122 shares of the utilities provider’s stock valued at $12,042,000 after buying an additional 12,717 shares during the period. ETRADE Capital Management LLC raised its holdings in Southwest Gas Corporation by 69.2% during the 3rd quarter. ETRADE Capital Management LLC now owns 17,799 shares of the utilities provider’s stock valued at $1,382,000 after buying an additional 7,279 shares during the period. Finally, TD Asset Management Inc. raised its holdings in Southwest Gas Corporation by 20.8% during the 3rd quarter. TD Asset Management Inc. now owns 21,770 shares of the utilities provider’s stock valued at $1,690,000 after buying an additional 3,755 shares during the period. 76.76% of the stock is currently 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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