Southwest Gas Holdings, Inc. to Issue Quarterly Dividend of $0.62 (NYSE:SWX)

Southwest Gas Holdings, Inc. (NYSE:SWXGet Rating) declared a quarterly dividend on Wednesday, September 21st, Zacks reports. Stockholders of record on Tuesday, November 15th will be given a dividend of 0.62 per share by the utilities provider on Thursday, December 1st. This represents a $2.48 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Monday, November 14th.

Southwest Gas has increased its dividend by an average of 4.6% per year over the last three years and has raised its dividend every year for the last 15 years. Southwest Gas has a dividend payout ratio of 50.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Southwest Gas to earn $4.83 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 51.3%.

Southwest Gas Trading Up 0.1 %

NYSE SWX opened at $78.74 on Friday. The firm has a 50 day simple moving average of $81.08 and a 200-day simple moving average of $84.08. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 3.80 and a beta of 0.16. Southwest Gas has a one year low of $62.58 and a one year high of $95.62. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.70 and a current ratio of 0.70.

Southwest Gas (NYSE:SWXGet Rating) last issued its earnings results on Tuesday, August 9th. The utilities provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.30). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.01 billion. Southwest Gas had a net margin of 3.37% and a return on equity of 6.96%. During the same period last year, the business earned $0.43 EPS. Equities research analysts anticipate that Southwest Gas will post 4.14 EPS for the current fiscal year.

Analyst Ratings Changes

SWX has been the topic of several analyst reports. Argus raised shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Thursday, June 9th. Wells Fargo & Company cut their price objective on shares of Southwest Gas from $101.00 to $86.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 10th. Finally, StockNews.com cut shares of Southwest Gas from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Southwest Gas currently has an average rating of “Hold” and a consensus target price of $91.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SWX. Vanguard Group Inc. increased its stake in shares of Southwest Gas by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 6,646,936 shares of the utilities provider’s stock valued at $520,388,000 after acquiring an additional 690,696 shares during the last quarter. State Street Corp increased its stake in shares of Southwest Gas by 6.4% during the 2nd quarter. State Street Corp now owns 2,139,232 shares of the utilities provider’s stock valued at $186,284,000 after acquiring an additional 129,214 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Southwest Gas by 12.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 534,644 shares of the utilities provider’s stock valued at $41,858,000 after acquiring an additional 58,409 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Southwest Gas by 222.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 394,594 shares of the utilities provider’s stock valued at $34,361,000 after acquiring an additional 272,223 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Southwest Gas by 10.6% during the 2nd quarter. Legal & General Group Plc now owns 162,868 shares of the utilities provider’s stock valued at $14,182,000 after acquiring an additional 15,562 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

About Southwest Gas

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Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.

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Dividend History for Southwest Gas (NYSE:SWX)

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