BidaskClub Upgrades Southwest Gas Corporation (SWX) to “Hold”

Southwest Gas Corporation (NYSE:SWX) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Monday, July 24th.

A number of other research analysts have also recently issued reports on SWX. Zacks Investment Research upgraded Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, March 30th. Jefferies Group LLC restated a “sell” rating and set a $68.00 price target on shares of Southwest Gas Corporation in a report on Friday, March 31st. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Southwest Gas Corporation currently has an average rating of “Hold” and an average target price of $80.50.

Southwest Gas Corporation (SWX) opened at 78.39 on Monday. Southwest Gas Corporation has a 12 month low of $64.26 and a 12 month high of $86.65. The company’s 50-day moving average is $78.84 and its 200 day moving average is $80.70. The firm has a market cap of $3.73 billion, a P/E ratio of 24.27 and a beta of 0.60.

Southwest Gas Corporation (NYSE:SWX) last released its earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.09. Southwest Gas Corporation had a return on equity of 9.09% and a net margin of 6.46%. The firm had revenue of $560.50 million for the quarter, compared to analysts’ expectations of $564.84 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts expect that Southwest Gas Corporation will post $3.42 EPS for the current fiscal 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 stock was sold at an average price of $80.90, for a total value of $48,540.00. Following the transaction, the vice president now directly owns 17,137 shares of the company’s stock, valued at $1,386,383.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Karen S. Haller sold 1,300 shares of the company’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 value of $105,235.00. Following the transaction, the senior vice president now directly owns 26,639 shares in the company, valued at $2,156,427.05. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in SWX. Farmers & Merchants Investments Inc. increased its stake in shares of Southwest Gas Corporation by 0.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 3,971 shares of the utilities provider’s stock valued at $290,000 after buying an additional 12 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Southwest Gas Corporation by 0.4% in the first quarter. Neuberger Berman Group LLC now owns 3,093 shares of the utilities provider’s stock valued at $256,000 after buying an additional 13 shares during the period. US Bancorp DE increased its stake in shares of Southwest Gas Corporation by 0.4% in the second quarter. US Bancorp DE now owns 6,856 shares of the utilities provider’s stock valued at $501,000 after buying an additional 25 shares during the period. HighTower Advisors LLC increased its stake in shares of Southwest Gas Corporation by 0.7% in the first quarter. HighTower Advisors LLC now owns 3,709 shares of the utilities provider’s stock valued at $307,000 after buying an additional 27 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Southwest Gas Corporation by 1.5% in the second quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock valued at $218,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Southwest Gas Corporation Company Profile

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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