Southwest Gas (NYSE:SWX) Hits New 52-Week High at $77.01

Southwest Gas Holdings, Inc. (NYSE:SWX)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $77.01 and last traded at $76.96, with a volume of 333213 shares traded. The stock had previously closed at $75.79.

Wall Street Analysts Forecast Growth

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

Southwest Gas Price Performance

The company has a market cap of $5.52 billion, a price-to-earnings ratio of 36.32, a P/E/G ratio of 3.63 and a beta of 0.36. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50 day moving average price is $73.58 and its 200 day moving average price is $65.29.

Southwest Gas (NYSE:SWX) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.33). The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.38 billion. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.69 EPS. On average, equities research analysts predict that Southwest Gas Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.22%. Southwest Gas’s dividend payout ratio is currently 116.98%.

Hedge Funds Weigh In On Southwest Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda lifted its stake in shares of Southwest Gas by 4.2% during the 4th quarter. Kapitalo Investimentos Ltda now owns 4,234 shares of the utilities provider’s stock worth $268,000 after buying an additional 171 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Southwest Gas by 56.1% during the third quarter. Fifth Third Bancorp now owns 484 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 174 shares during the period. Retirement Systems of Alabama grew its position in shares of Southwest Gas by 0.3% in the first quarter. Retirement Systems of Alabama now owns 75,442 shares of the utilities provider’s stock valued at $5,743,000 after purchasing an additional 199 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Southwest Gas by 2.7% in the third quarter. Janney Montgomery Scott LLC now owns 7,700 shares of the utilities provider’s stock valued at $465,000 after acquiring an additional 205 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Southwest Gas by 1.4% during the third quarter. Arizona State Retirement System now owns 20,311 shares of the utilities provider’s stock worth $1,227,000 after purchasing an additional 277 shares during the period. 92.77% of the stock is owned by institutional investors.

Southwest Gas Company Profile

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.