Southwest Gas Corp. (SWX) Receives $73.67 Average Price Target from Brokerages
Southwest Gas Corp. (NYSE:SWX) has earned an average rating of “Hold” from the five brokerages that are currently covering the firm. Five equities research analysts have rated the stock with a hold recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $73.67.
SWX has been the topic of several analyst reports. Zacks Investment Research raised shares of Southwest Gas Corp. from a “sell” rating to a “hold” rating and set a $77.00 price target on the stock in a research report on Tuesday, October 18th. Jefferies Group raised shares of Southwest Gas Corp. from an “underperform” rating to a “hold” rating and set a $65.00 price target on the stock in a research report on Thursday, October 13th. Argus reissued a “hold” rating on shares of Southwest Gas Corp. in a research report on Thursday, September 8th. Finally, 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.
In other 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 sale, the chief financial officer now directly owns 31,618 shares of the company’s stock, valued at approximately $2,261,951.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.34% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Advisor Group Inc. purchased a new stake in shares of Southwest Gas Corp. during the second quarter worth about $106,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Southwest Gas Corp. during the second quarter worth about $190,000. Neuberger Berman Group LLC bought a new position in shares of Southwest Gas Corp. during the third quarter worth approximately $211,000. LS Investment Advisors LLC raised its position in shares of Southwest Gas Corp. by 7.0% in the third quarter. LS Investment Advisors LLC now owns 3,031 shares of the company’s stock worth $212,000 after buying an additional 198 shares during the period. Finally, Ashfield Capital Partners LLC bought a new position in shares of Southwest Gas Corp. during the second quarter worth approximately $215,000. 80.56% of the stock is currently owned by institutional investors.
Southwest Gas Corp. (NYSE:SWX) opened at 71.59 on Wednesday. The stock has a 50 day moving average of $69.61 and a 200 day moving average of $71.77. Southwest Gas Corp. has a 52 week low of $50.53 and a 52 week high of $79.58. The company has a market cap of $3.40 billion, a PE ratio of 23.38 and a beta of 0.46.
Southwest Gas Corp. (NYSE:SWX) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. Southwest Gas Corp. had a net margin of 6.11% and a return on equity of 9.26%. The firm had revenue of $539.97 million for the quarter, compared to analysts’ expectations of $528.36 million. During the same period in the previous year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts predict that Southwest Gas Corp. will post $3.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a $0.45 dividend. The ex-dividend date is Thursday, November 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.51%. Southwest Gas Corp.’s payout ratio is 56.25%.
About Southwest Gas Corp.
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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