Southwest Gas Corp. (NYSE:SWX) Receives Consensus Recommendation of “Hold” from Analysts
Southwest Gas Corp. (NYSE:SWX) has been assigned a consensus rating of “Hold” from the five research firms that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $71.50.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Southwest Gas Corp. from a “sell” rating to a “hold” rating in a research report on Saturday. Argus reissued a “hold” rating on shares of Southwest Gas Corp. in a research report on Thursday, September 8th. Citigroup Inc. increased their price objective on shares of Southwest Gas Corp. from $62.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, Jefferies Group lowered shares of Southwest Gas Corp. from a “hold” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research report on Monday, July 25th.
Shares of Southwest Gas Corp. (NYSE:SWX) traded down 0.03% during trading on Wednesday, reaching $65.55. 145,459 shares of the company’s stock traded hands. Southwest Gas Corp. has a one year low of $50.53 and a one year high of $79.58. The stock has a market cap of $3.11 billion, a P/E ratio of 21.41 and a beta of 0.54. The company has a 50 day moving average price of $70.79 and a 200-day moving average price of $71.01.
Southwest Gas Corp. (NYSE:SWX) last released its quarterly earnings results on Monday, August 8th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business earned $547.70 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, equities research analysts expect that Southwest Gas Corp. will post $3.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.80 annualized dividend and a yield of 2.75%. Southwest Gas Corp.’s dividend payout ratio (DPR) is presently 59.02%.
In related news, CFO Roy R. Centrella sold 1,000 shares of the stock in a transaction that occurred on 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 filing with the SEC, which is available through this link. Also, SVP Eric Debonis sold 600 shares of the stock in a transaction that occurred on 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 modified their holdings of SWX. US Bancorp DE increased its position in shares of Southwest Gas Corp. by 0.6% in the second quarter. US Bancorp DE now owns 6,103 shares of the company’s stock valued at $480,000 after buying an additional 36 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Southwest Gas Corp. by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 9,750 shares of the company’s stock valued at $767,000 after buying an additional 50 shares during the period. Barclays PLC boosted its stake in shares of Southwest Gas Corp. by 0.5% in the first quarter. Barclays PLC now owns 28,003 shares of the company’s stock worth $1,820,000 after buying an additional 134 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Southwest Gas Corp. by 2.7% in the second quarter. ProShare Advisors LLC now owns 7,871 shares of the company’s stock worth $620,000 after buying an additional 207 shares during the last quarter. Finally, PineBridge Investments L.P. boosted its stake in shares of Southwest Gas Corp. by 3.8% in the second quarter. PineBridge Investments L.P. now owns 6,020 shares of the company’s stock worth $473,000 after buying an additional 221 shares during the last quarter. 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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