Thrivent Financial for Lutherans boosted its holdings in shares of Southwest Gas (NYSE:SWX) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,190 shares of the utilities provider’s stock after buying an additional 693 shares during the period. Thrivent Financial for Lutherans owned about 0.34% of Southwest Gas worth $11,037,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of SWX. Bank of New York Mellon Corp lifted its holdings in shares of Southwest Gas by 68.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,123,671 shares of the utilities provider’s stock valued at $90,433,000 after acquiring an additional 454,848 shares during the period. William Blair Investment Management LLC bought a new position in shares of Southwest Gas during the fourth quarter valued at $31,632,000. Chartwell Investment Partners LLC bought a new position in shares of Southwest Gas during the fourth quarter valued at $16,169,000. Macquarie Group Ltd. lifted its holdings in shares of Southwest Gas by 8.6% during the fourth quarter. Macquarie Group Ltd. now owns 1,730,377 shares of the utilities provider’s stock valued at $131,163,000 after acquiring an additional 136,574 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Southwest Gas by 79.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 284,945 shares of the utilities provider’s stock valued at $22,933,000 after acquiring an additional 126,556 shares during the period. Hedge funds and other institutional investors own 81.01% of the company’s stock.
A number of research analysts have issued reports on SWX shares. Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Friday, March 30th. UBS reissued a “buy” rating and set a $89.00 price objective (down from $93.00) on shares of Southwest Gas in a report on Friday, March 2nd. Williams Capital started coverage on Southwest Gas in a report on Tuesday, April 10th. They set a “hold” rating and a $73.00 price objective for the company. Jefferies Group reissued a “hold” rating and set a $69.00 price objective on shares of Southwest Gas in a report on Wednesday, March 28th. Finally, Citigroup cut their price target on Southwest Gas from $82.00 to $73.00 and set a “neutral” rating for the company in a report on Tuesday, March 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $76.00.
In other Southwest Gas news, Director Thomas A. Thomas purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The shares were acquired at an average cost of $72.91 per share, for a total transaction of $72,910.00. Following the completion of the acquisition, the director now owns 27,280 shares of the company’s stock, valued at approximately $1,988,984.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Debonis sold 1,400 shares of Southwest Gas stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $63.43, for a total value of $88,802.00. Following the sale, the senior vice president now owns 14,229 shares in the company, valued at $902,545.47. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
Southwest Gas stock opened at $70.71 on Tuesday. The stock has a market capitalization of $3.42 billion, a P/E ratio of 19.53 and a beta of 0.51. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.10 and a quick ratio of 1.10. Southwest Gas has a 12-month low of $62.53 and a 12-month high of $86.87.
Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Monday, May 7th. The utilities provider reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.03. The firm had revenue of $754.30 million during the quarter, compared to analysts’ expectations of $524.56 million. Southwest Gas had a return on equity of 10.32% and a net margin of 7.69%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.45 earnings per share. sell-side analysts predict that Southwest Gas will post 3.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Wednesday, August 15th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.94%. Southwest Gas’s payout ratio is 57.46%.
Southwest Gas Profile
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.
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