Short Interest in Southwest Gas Holdings, Inc. (NYSE:SWX) Increases By 20.5%

Southwest Gas Holdings, Inc. (NYSE:SWX) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 3,000,000 shares, a growth of 20.5% from the March 31st total of 2,490,000 shares. Based on an average trading volume of 494,600 shares, the days-to-cover ratio is currently 6.1 days.

Institutional Trading of Southwest Gas

Large investors have recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in Southwest Gas by 56.1% during the 3rd quarter. Fifth Third Bancorp now owns 484 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 174 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Southwest Gas by 461.9% during the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 1,127 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Southwest Gas by 16.8% in the third quarter. Assetmark Inc. now owns 2,571 shares of the utilities provider’s stock worth $155,000 after acquiring an additional 369 shares in the last quarter. Allworth Financial LP boosted its holdings in Southwest Gas by 520.4% in the fourth quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock valued at $195,000 after purchasing an additional 2,576 shares during the last quarter. Finally, Central Valley Advisors LLC acquired a new position in shares of Southwest Gas in the 1st quarter valued at approximately $204,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

Southwest Gas Price Performance

Southwest Gas stock traded down $0.18 during mid-day trading on Wednesday, hitting $74.44. 108,483 shares of the company were exchanged, compared to its average volume of 464,100. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $5.33 billion, a P/E ratio of 35.25, a PEG ratio of 3.61 and a beta of 0.36. Southwest Gas has a 12-month low of $53.79 and a 12-month high of $76.75. The business’s 50 day simple moving average is $72.10 and its two-hundred day simple moving average is $64.61.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.16. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. Analysts forecast that Southwest Gas will post 3.45 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.33%. Southwest Gas’s payout ratio is currently 116.98%.

Wall Street Analysts Forecast Growth

Separately, Citigroup boosted their price target on Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th.

About Southwest Gas

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.