Shares of Southwest Gas Holdings Inc (NYSE:SWX) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $77.00.
SWX has been the topic of a number of research reports. UBS upgraded Southwest Gas from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, December 19th. Zacks Investment Research upgraded Southwest Gas from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Friday, January 5th. Jefferies Group restated a “hold” rating and set a $69.00 price objective on shares of Southwest Gas in a research report on Wednesday, March 28th. Finally, Citigroup lowered their price objective on Southwest Gas from $82.00 to $73.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 27th.
In other news, SVP Eric Debonis sold 1,400 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $63.43, for a total transaction of $88,802.00. Following the sale, the senior vice president now directly owns 14,229 shares in the company, valued at $902,545.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.99% of the company’s stock.
A number of large investors have recently made changes to their positions in SWX. New York State Common Retirement Fund grew its position in Southwest Gas by 30.1% in the third quarter. New York State Common Retirement Fund now owns 130,949 shares of the utilities provider’s stock valued at $10,164,000 after acquiring an additional 30,272 shares during the period. TD Asset Management Inc. grew its position in Southwest Gas by 20.8% in the third quarter. TD Asset Management Inc. now owns 21,770 shares of the utilities provider’s stock valued at $1,690,000 after acquiring an additional 3,755 shares during the period. Legal & General Group Plc grew its position in Southwest Gas by 8.9% in the third quarter. Legal & General Group Plc now owns 155,122 shares of the utilities provider’s stock valued at $12,042,000 after acquiring an additional 12,717 shares during the period. Virginia Retirement Systems ET AL grew its position in Southwest Gas by 45.5% in the third quarter. Virginia Retirement Systems ET AL now owns 25,600 shares of the utilities provider’s stock valued at $1,987,000 after acquiring an additional 8,000 shares during the period. Finally, Wells Fargo & Company MN grew its position in Southwest Gas by 40.5% in the third quarter. Wells Fargo & Company MN now owns 159,778 shares of the utilities provider’s stock valued at $12,402,000 after acquiring an additional 46,071 shares during the period. Hedge funds and other institutional investors own 80.14% of the company’s stock.
Shares of SWX stock opened at $69.07 on Thursday. Southwest Gas has a 12 month low of $62.53 and a 12 month high of $86.87. The company has a market cap of $3,326.34, a PE ratio of 19.08 and a beta of 0.53. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81.
Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Southwest Gas had a return on equity of 10.00% and a net margin of 7.61%. The company had revenue of $740.43 million during the quarter, compared to analyst estimates of $705.70 million. equities analysts anticipate that Southwest Gas will post 3.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, May 14th. This is a boost from Southwest Gas’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.01%. Southwest Gas’s payout ratio is currently 54.70%.
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About Southwest Gas
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.
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