Southwest Gas Corporation (SWX) Announces Earnings Results, Beats Estimates By $0.09 EPS

Southwest Gas Corporation (NYSE:SWX) announced its earnings results on Monday, August 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09, Bloomberg Earnings reports. The firm had revenue of $560.50 million for the quarter, compared to the consensus estimate of $564.84 million. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS.

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

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In other news, VP Kenneth J. Kenny sold 600 shares of the stock in a transaction dated Friday, August 11th. The shares were 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP Karen S. Haller sold 1,300 shares of the stock in a transaction dated Friday, August 11th. The shares were 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 in the company, valued at $2,156,427.05. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of SWX. Farmers & Merchants Investments Inc. raised its position in 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 worth $290,000 after buying an additional 12 shares in the last quarter. Neuberger Berman Group LLC raised its position in 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 worth $256,000 after buying an additional 13 shares in the last quarter. US Bancorp DE raised its position in Southwest Gas Corporation by 0.4% in the second quarter. US Bancorp DE now owns 6,856 shares of the utilities provider’s stock worth $501,000 after buying an additional 25 shares in the last quarter. HighTower Advisors LLC raised its position in Southwest Gas Corporation by 0.7% in the first quarter. HighTower Advisors LLC now owns 3,709 shares of the utilities provider’s stock worth $307,000 after buying an additional 27 shares in the last quarter. Finally, World Asset Management Inc raised its position in 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 worth $218,000 after buying an additional 44 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

SWX has been the topic of several recent analyst reports. BidaskClub upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC upgraded shares of Southwest Gas Corporation from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Saturday, April 22nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $80.50.

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).

Earnings History for Southwest Gas Corporation (NYSE:SWX)

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