Axa Reduces Position in Southwest Gas Holdings Inc (SWX)

Axa lessened its stake in Southwest Gas Holdings Inc (NYSE:SWX) by 91.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,700 shares of the utilities provider’s stock after selling 73,000 shares during the period. Axa’s holdings in Southwest Gas were worth $530,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Alliancebernstein L.P. raised its stake in Southwest Gas by 60.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,104,381 shares of the utilities provider’s stock worth $87,279,000 after acquiring an additional 414,823 shares in the last quarter. Commonwealth Bank of Australia acquired a new stake in Southwest Gas during the 3rd quarter worth $371,000. Candriam Luxembourg S.C.A. acquired a new stake in Southwest Gas during the 3rd quarter worth $4,378,000. JPMorgan Chase & Co. raised its stake in Southwest Gas by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 547,364 shares of the utilities provider’s stock worth $43,260,000 after acquiring an additional 7,620 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Southwest Gas by 115.8% during the 3rd quarter. SG Americas Securities LLC now owns 24,235 shares of the utilities provider’s stock worth $1,915,000 after acquiring an additional 13,004 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

NYSE SWX opened at $80.76 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 5.35 and a beta of 0.40. Southwest Gas Holdings Inc has a one year low of $62.53 and a one year high of $85.97.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.11. The company had revenue of $668.10 million for the quarter, compared to analyst estimates of $224.00 million. Southwest Gas had a net margin of 7.39% and a return on equity of 10.01%. Southwest Gas’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. Equities analysts anticipate that Southwest Gas Holdings Inc will post 3.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.58%. Southwest Gas’s dividend payout ratio is presently 57.46%.

Several equities research analysts recently commented on the stock. ValuEngine upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research lowered shares of Southwest Gas from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 19th. Citigroup lifted their price target on shares of Southwest Gas from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, October 3rd. Williams Capital lifted their price objective on shares of Southwest Gas from $74.00 to $78.00 and gave the company a “hold” rating in a research note on Monday, December 3rd. Finally, Bank of America set a $76.00 price objective on shares of Southwest Gas and gave the company a “sell” rating in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $79.00.

In other Southwest Gas news, VP Kenneth J. Kenny sold 500 shares of Southwest Gas stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $82.67, for a total value of $41,335.00. Following the transaction, the vice president now directly owns 15,509 shares in the company, valued at $1,282,129.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.99% of the company’s stock.

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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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Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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