Southwest Gas Corp. (SWX) Stock Rating Upgraded by Zacks Investment Research
Southwest Gas Corp. (NYSE:SWX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
According to Zacks, “SOUTHWEST GAS CORP. is principally engaged in the business of purchasing, transporting, and distributing natural gas in portions of Arizona, Nevada, and California. The Company also engaged in financial services activities, through PriMerit Bank, Federal Savings Bank (PriMerit or the Bank), a wholly owned subsidiary. “
SWX has been the topic of several other reports. Argus reissued a “hold” rating on shares of Southwest Gas Corp. in a research report on Thursday, September 8th. Citigroup Inc. boosted their price target 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. Finally, Jefferies Group cut shares of Southwest Gas Corp. from a “hold” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $71.25.
Southwest Gas Corp. (NYSE:SWX) opened at 69.86 on Friday. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 22.82 and a beta of 0.52. Southwest Gas Corp. has a 12-month low of $50.53 and a 12-month high of $79.58. The stock’s 50 day moving average price is $71.11 and its 200 day moving average price is $70.88.
Southwest Gas Corp. (NYSE:SWX) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Southwest Gas Corp. had a net margin of 5.90% and a return on equity of 9.07%. The firm had revenue of $547.70 million for the quarter, compared to analysts’ expectations of $559.21 million. During the same period in the previous year, the firm posted $0.13 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities research analysts anticipate that Southwest Gas Corp. will post $3.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.80 annualized dividend and a dividend yield of 2.58%. Southwest Gas Corp.’s dividend payout ratio is presently 59.02%.
In other news, CFO Roy R. Centrella sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $71.54, for a total transaction of $71,540.00. Following the transaction, the chief financial officer now directly owns 31,618 shares in the company, valued at approximately $2,261,951.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Debonis sold 600 shares of the business’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 transaction, the senior vice president now owns 19,694 shares in the company, valued at $1,437,465.06. The disclosure for this sale can be found here. Insiders own 1.34% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in Southwest Gas Corp. by 57.8% in the first quarter. Renaissance Technologies LLC now owns 186,000 shares of the company’s stock valued at $12,248,000 after buying an additional 68,100 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Southwest Gas Corp. by 27.3% in the first quarter. Wellington Management Group LLP now owns 236,218 shares of the company’s stock worth $15,556,000 after buying an additional 50,622 shares during the period. Geode Capital Management LLC raised its position in shares of Southwest Gas Corp. by 10.1% in the first quarter. Geode Capital Management LLC now owns 326,281 shares of the company’s stock worth $21,485,000 after buying an additional 30,037 shares during the period. AXA raised its position in shares of Southwest Gas Corp. by 243.7% in the first quarter. AXA now owns 327,500 shares of the company’s stock worth $21,566,000 after buying an additional 232,200 shares during the period. Finally, UBS Group AG raised its position in shares of Southwest Gas Corp. by 8.6% in the first quarter. UBS Group AG now owns 11,254 shares of the company’s stock worth $741,000 after buying an additional 891 shares during the period. 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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