Southwest Gas (NYSE:SWX) released its quarterly earnings results on Tuesday. The utilities provider reported $1.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.25, reports. Southwest Gas had a return on equity of 9.56% and a net margin of 6.64%.
Southwest Gas (NYSE SWX) traded down $0.68 during midday trading on Tuesday, hitting $68.20. The stock had a trading volume of 198,221 shares, compared to its average volume of 188,818. Southwest Gas has a 12 month low of $66.61 and a 12 month high of $86.87. The firm has a market capitalization of $3,301.61, a PE ratio of 20.06 and a beta of 0.47. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.82 and a current ratio of 0.82.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.05%. This is a boost from Southwest Gas’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, May 14th. Southwest Gas’s payout ratio is 58.24%.
A number of research firms have recently weighed in on SWX. Zacks Investment Research cut Southwest Gas from a “buy” rating to a “hold” rating in a report on Friday, January 26th. UBS Group raised Southwest Gas from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, December 19th. Finally, Citigroup boosted their price target on Southwest Gas from $79.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Southwest Gas has an average rating of “Hold” and an average target price of $82.00.
In other news, VP Gregory J. Peterson sold 1,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $85.72, for a total value of $85,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.99% of the company’s stock.
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About Southwest Gas
Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. 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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