Southwest Gas Holdings Inc (NYSE:SWX) SVP Justin L. Brown bought 418 shares of Southwest Gas stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average cost of $86.20 per share, for a total transaction of $36,031.60. Following the completion of the transaction, the senior vice president now directly owns 5,720 shares in the company, valued at $493,064. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of SWX stock traded up $0.62 during mid-day trading on Friday, reaching $88.72. The stock had a trading volume of 1,622 shares, compared to its average volume of 300,142. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $4.67 billion, a PE ratio of 24.07, a P/E/G ratio of 3.62 and a beta of 0.33. Southwest Gas Holdings Inc has a 1-year low of $72.68 and a 1-year high of $88.71.
Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $807.10 million for the quarter, compared to analyst estimates of $516.97 million. Southwest Gas had a return on equity of 9.34% and a net margin of 6.69%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 earnings per share. Sell-side analysts forecast that Southwest Gas Holdings Inc will post 3.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Wednesday, August 14th. Southwest Gas’s dividend payout ratio is presently 59.24%.
Several brokerages recently issued reports on SWX. Wells Fargo & Co reaffirmed a “hold” rating on shares of Southwest Gas in a research report on Monday. Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Saturday, May 18th. ValuEngine lowered Southwest Gas from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. UBS Group lowered Southwest Gas from a “buy” rating to a “neutral” rating and upped their target price for the company from $88.00 to $89.00 in a research report on Friday, March 29th. Finally, Williams Capital reaffirmed a “hold” rating on shares of Southwest Gas in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Southwest Gas presently has an average rating of “Hold” and an average price target of $84.33.
Several hedge funds have recently made changes to their positions in SWX. FMR LLC increased its holdings in shares of Southwest Gas by 124.5% in the fourth quarter. FMR LLC now owns 1,059,753 shares of the utilities provider’s stock valued at $81,072,000 after purchasing an additional 587,738 shares during the period. Norges Bank acquired a new position in shares of Southwest Gas in the fourth quarter valued at about $33,953,000. BlackRock Inc. increased its holdings in shares of Southwest Gas by 6.4% in the fourth quarter. BlackRock Inc. now owns 6,235,560 shares of the utilities provider’s stock valued at $477,022,000 after purchasing an additional 374,766 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Southwest Gas by 59.5% in the fourth quarter. Victory Capital Management Inc. now owns 935,646 shares of the utilities provider’s stock valued at $71,577,000 after purchasing an additional 348,953 shares during the period. Finally, Magellan Asset Management Ltd increased its holdings in shares of Southwest Gas by 826.1% in the fourth quarter. Magellan Asset Management Ltd now owns 371,435 shares of the utilities provider’s stock valued at $28,415,000 after purchasing an additional 331,328 shares during the period. 82.89% of the stock is currently owned by institutional investors and hedge funds.
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About Southwest Gas
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.
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