Southwest Gas Corp. to Issue Quarterly Dividend of $0.45 (SWX)
Southwest Gas Corp. (NYSE:SWX) declared a quarterly dividend on Wednesday, September 28th. Shareholders of record on Tuesday, November 15th will be given a dividend of 0.45 per share on Thursday, December 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.50%.
Southwest Gas Corp. (NYSE:SWX) opened at 72.00 on Thursday. Southwest Gas Corp. has a 1-year low of $50.53 and a 1-year high of $79.58. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 23.51 and a beta of 0.52. The firm has a 50 day moving average of $71.28 and a 200-day moving average of $70.84.
Southwest Gas Corp. (NYSE:SWX) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The business had revenue of $547.70 million for the quarter, compared to the consensus estimate of $559.21 million. Southwest Gas Corp. had a net margin of 5.90% and a return on equity of 9.07%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. On average, equities research analysts anticipate that Southwest Gas Corp. will post $3.17 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the stock. Argus reissued a “hold” rating on shares of Southwest Gas Corp. in a research report on Thursday, September 8th. Citigroup Inc. upped their target price on shares of Southwest Gas Corp. from $62.00 to $79.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Zacks Investment Research downgraded shares of Southwest Gas Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. Finally, Jefferies Group downgraded shares of Southwest Gas Corp. from a “hold” rating to an “underperform” rating and set a $64.00 target price on the stock. in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $71.25.
In related news, CFO Roy R. Centrella sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $71.54, for a total value of $71,540.00. Following the transaction, the chief financial officer now owns 31,618 shares in the company, valued at approximately $2,261,951.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Eric Debonis sold 600 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $72.99, for a total transaction of $43,794.00. Following the completion of the transaction, the senior vice president now owns 19,694 shares in the company, valued at approximately $1,437,465.06. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its position in shares of Southwest Gas Corp. by 1.2% in the second quarter. Arizona State Retirement System now owns 24,642 shares of the company’s stock worth $1,940,000 after buying an additional 300 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Southwest Gas Corp. during the second quarter worth about $6,134,000. Cubist Systematic Strategies LLC purchased a new position in shares of Southwest Gas Corp. during the second quarter worth about $739,000. AQR Capital Management LLC boosted its position in shares of Southwest Gas Corp. by 252.8% in the second quarter. AQR Capital Management LLC now owns 136,768 shares of the company’s stock worth $10,765,000 after buying an additional 97,997 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Southwest Gas Corp. during the second quarter worth about $309,000. Institutional investors own 80.16% of the company’s stock.
Southwest Gas Corp. Company Profile
Southwest Gas Corporation is engaged in the business of purchasing, distributing and transporting natural gas in Arizona, Nevada and California. 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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