Commonwealth Equity Services LLC boosted its position in Southwest Gas Holdings Inc (NYSE:SWX) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,805 shares of the utilities provider’s stock after purchasing an additional 251 shares during the period. Commonwealth Equity Services LLC’s holdings in Southwest Gas were worth $400,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in SWX. Retirement Systems of Alabama raised its holdings in Southwest Gas by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 196,021 shares of the utilities provider’s stock worth $13,535,000 after purchasing an additional 789 shares during the period. Swiss National Bank raised its stake in shares of Southwest Gas by 1.9% in the first quarter. Swiss National Bank now owns 105,900 shares of the utilities provider’s stock worth $7,366,000 after buying an additional 2,000 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Southwest Gas by 30.4% during the 1st quarter. Thrivent Financial for Lutherans now owns 56,659 shares of the utilities provider’s stock valued at $3,942,000 after buying an additional 13,193 shares in the last quarter. US Bancorp DE grew its stake in shares of Southwest Gas by 14.3% during the 1st quarter. US Bancorp DE now owns 19,637 shares of the utilities provider’s stock valued at $1,366,000 after acquiring an additional 2,454 shares during the period. Finally, HighTower Advisors LLC increased its holdings in Southwest Gas by 32.3% in the 1st quarter. HighTower Advisors LLC now owns 14,963 shares of the utilities provider’s stock worth $1,041,000 after acquiring an additional 3,651 shares in the last quarter. Institutional investors and hedge funds own 85.22% of the company’s stock.
A number of research firms have weighed in on SWX. Zacks Investment Research lowered shares of Southwest Gas from a “buy” rating to a “hold” rating in a research report on Thursday, July 30th. Jefferies Financial Group lowered their target price on shares of Southwest Gas from $72.00 to $69.00 and set a “hold” rating on the stock in a research note on Friday, July 24th. Bank of America reiterated a “neutral” rating and issued a $68.00 price target on shares of Southwest Gas in a research note on Tuesday, August 25th. Finally, Wells Fargo & Company upgraded Southwest Gas from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $76.00 to $73.00 in a research report on Wednesday, August 19th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Southwest Gas presently has an average rating of “Hold” and a consensus price target of $76.14.
Shares of NYSE:SWX opened at $62.32 on Wednesday. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 3.24 and a beta of 0.19. The firm has a fifty day moving average price of $66.81 and a 200 day moving average price of $69.41. Southwest Gas Holdings Inc has a fifty-two week low of $45.68 and a fifty-two week high of $92.94. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.94 and a current ratio of 0.94.
Southwest Gas (NYSE:SWX) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.40 by $0.28. The business had revenue of $757.25 million for the quarter, compared to analysts’ expectations of $271.93 million. Southwest Gas had a net margin of 6.55% and a return on equity of 8.84%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, research analysts predict that Southwest Gas Holdings Inc will post 3.85 earnings per share for the current year.
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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