Southwest Gas Corporation (SWX) Receives Consensus Rating of “Hold” from Analysts

Shares of Southwest Gas Corporation (NYSE:SWX) have been given a consensus rating of “Hold” by the seven analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $81.25.

Several brokerages recently issued reports on SWX. Citigroup boosted their price objective on Southwest Gas from $79.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 20th. Jefferies Group reiterated a “hold” rating and issued a $70.00 price objective on shares of Southwest Gas in a research report on Monday, October 16th. KeyCorp restated a “hold” rating on shares of Southwest Gas in a research note on Friday, September 1st. Finally, UBS Group boosted their target price on Southwest Gas from $83.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th.

In other news, VP Gregory J. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $85.72, for a total transaction of $85,720.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kenneth J. Kenny sold 600 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $80.17, for a total value of $48,102.00. Following the sale, the vice president now owns 16,746 shares in the company, valued at approximately $1,342,526.82. The disclosure for this sale can be found here. Insiders sold a total of 5,120 shares of company stock worth $423,096 in the last 90 days. Company insiders own 0.99% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Southwest Gas by 7.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 118 shares during the period. Flinton Capital Management LLC raised its stake in Southwest Gas by 69.7% in the 2nd quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock valued at $177,000 after acquiring an additional 992 shares during the period. Riverhead Capital Management LLC raised its stake in Southwest Gas by 74.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 1,197 shares during the period. Ashfield Capital Partners LLC bought a new stake in Southwest Gas in the 3rd quarter valued at $212,000. Finally, Shelton Capital Management bought a new stake in Southwest Gas in the 2nd quarter valued at $235,000. Institutional investors own 77.41% of the company’s stock.

Shares of Southwest Gas (NYSE:SWX) traded down $0.59 during trading hours on Tuesday, reaching $80.23. The company’s stock had a trading volume of 114,200 shares, compared to its average volume of 262,244. The company has a market cap of $3,829.53, a PE ratio of 23.60, a P/E/G ratio of 4.02 and a beta of 0.61. Southwest Gas has a 12-month low of $71.51 and a 12-month high of $86.87. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82.

Southwest Gas (NYSE:SWX) last posted its earnings results on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.07. The company had revenue of $593.15 million during the quarter, compared to analyst estimates of $579.40 million. Southwest Gas had a return on equity of 9.56% and a net margin of 6.64%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. sell-side analysts expect that Southwest Gas will post 3.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.47%. The ex-dividend date is Wednesday, February 14th. Southwest Gas’s payout ratio is 58.24%.

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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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