Southwest Gas Corporation (NYSE:SWX) SVP Eric Debonis sold 3,520 shares of Southwest Gas stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $82.18, for a total transaction of $289,273.60. Following the completion of the sale, the senior vice president now owns 16,060 shares of the company’s stock, valued at $1,319,810.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Southwest Gas Corporation (SWX) traded up $0.28 during mid-day trading on Friday, hitting $86.23. 356,778 shares of the stock traded hands, compared to its average volume of 229,559. Southwest Gas Corporation has a 1 year low of $71.51 and a 1 year high of $86.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $4,102.07, a P/E ratio of 25.28, a PEG ratio of 3.90 and a beta of 0.61.
Southwest Gas (NYSE:SWX) last released its earnings results on Tuesday, November 7th. The utilities provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.14 by $0.07. Southwest Gas had a net margin of 6.64% and a return on equity of 9.56%. The firm had revenue of $593.15 million for the quarter, compared to the consensus estimate of $579.40 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. equities analysts expect that Southwest Gas Corporation will post 3.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, February 14th. Southwest Gas’s dividend payout ratio (DPR) is presently 58.24%.
Hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in Southwest Gas by 3.6% in the second quarter. State Street Corp now owns 1,654,461 shares of the utilities provider’s stock worth $120,875,000 after purchasing an additional 57,189 shares during the last quarter. Tributary Capital Management LLC increased its position in Southwest Gas by 8.2% in the third quarter. Tributary Capital Management LLC now owns 21,000 shares of the utilities provider’s stock worth $1,630,000 after purchasing an additional 1,600 shares during the last quarter. Prudential Financial Inc. increased its position in Southwest Gas by 25.6% in the second quarter. Prudential Financial Inc. now owns 469,650 shares of the utilities provider’s stock worth $34,313,000 after purchasing an additional 95,800 shares during the last quarter. Shell Asset Management Co. increased its position in Southwest Gas by 25.1% in the third quarter. Shell Asset Management Co. now owns 58,915 shares of the utilities provider’s stock worth $2,862,000 after purchasing an additional 11,816 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Southwest Gas by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 662,770 shares of the utilities provider’s stock worth $48,423,000 after purchasing an additional 4,801 shares during the last quarter. 77.50% of the stock is currently owned by hedge funds and other institutional investors.
SWX has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Southwest Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. BidaskClub lowered shares of Southwest Gas from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Jefferies Group restated a “hold” rating and set a $70.00 target price on shares of Southwest Gas in a research report on Thursday, August 31st. KeyCorp restated a “hold” rating on shares of Southwest Gas in a research report on Friday, September 1st. Finally, UBS lifted their price target on shares of Southwest Gas from $83.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $81.25.
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About Southwest Gas
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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