Hsbc Holdings PLC Acquires New Shares in Southwest Gas Corporation $SWX

Hsbc Holdings PLC bought a new position in Southwest Gas Corporation (NYSE:SWX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 39,447 shares of the utilities provider’s stock, valued at approximately $3,513,000. Hsbc Holdings PLC owned 0.05% of Southwest Gas as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in Southwest Gas by 54.8% in the first quarter. Bank of America Corp DE now owns 395,336 shares of the utilities provider’s stock valued at $34,355,000 after purchasing an additional 139,872 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Southwest Gas by 204.5% in the 1st quarter. Quantinno Capital Management LP now owns 38,073 shares of the utilities provider’s stock worth $3,309,000 after acquiring an additional 25,569 shares during the last quarter. Horizon Investments LLC bought a new stake in Southwest Gas in the fourth quarter worth $1,361,000. Jennison Associates LLC purchased a new stake in Southwest Gas during the 4th quarter valued at about $1,086,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Southwest Gas in the first quarter worth about $3,799,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas Trading Down 0.5%

SWX opened at $88.94 on Friday. The firm has a market cap of $6.44 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.12 and a beta of 0.57. The company has a current ratio of 1.12, a quick ratio of 0.71 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average of $90.83 and a 200 day moving average of $89.28. Southwest Gas Corporation has a 12 month low of $76.59 and a 12 month high of $94.46.

Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $358.15 million for the quarter, compared to analyst estimates of $416.20 million. Southwest Gas had a return on equity of 6.79% and a net margin of 31.85%.Southwest Gas’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.18) EPS. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. As a group, research analysts forecast that Southwest Gas Corporation will post 4.25 EPS for the current year.

Southwest Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a $0.645 dividend. This represents a $2.58 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 17th. Southwest Gas’s dividend payout ratio is presently 33.68%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SWX. Wall Street Zen cut Southwest Gas from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings cut Southwest Gas from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, August 17th. Citigroup lifted their target price on Southwest Gas from $99.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Mizuho set a $103.00 price objective on shares of Southwest Gas in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upgraded Southwest Gas from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.67.

Southwest Gas Company Profile

Southwest Gas Corporation (NYSE: SWX) is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company’s core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation’s larger natural gas utilities by customer count.