Southwest Gas Corp. (SWX) Upgraded to “Hold” by Jefferies Group
Southwest Gas Corp. (NYSE:SWX) was upgraded by equities research analysts at Jefferies Group to a “hold” rating in a note issued to investors on Thursday.
Several other research firms also recently commented on SWX. Zacks Investment Research upgraded shares of Southwest Gas Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Citigroup Inc. upped their price target on shares of Southwest Gas Corp. from $62.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, Argus reiterated a “hold” rating on shares of Southwest Gas Corp. in a research report on Thursday, September 8th. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $71.25.
Southwest Gas Corp. (NYSE:SWX) opened at 65.71 on Thursday. The stock has a 50 day moving average of $69.68 and a 200 day moving average of $70.94. Southwest Gas Corp. has a 1-year low of $50.53 and a 1-year high of $79.58. The stock has a market capitalization of $3.12 billion, a P/E ratio of 21.46 and a beta of 0.54.
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Southwest Gas Corp. (NYSE:SWX) last released its quarterly earnings results on Monday, August 8th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Southwest Gas Corp. had a net margin of 5.90% and a return on equity of 9.07%. The firm earned $547.70 million during the quarter, compared to the consensus estimate of $559.21 million. During the same quarter in the prior year, the firm earned $0.13 EPS. Southwest Gas Corp.’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts expect that Southwest Gas Corp. will post $3.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.80 annualized dividend and a yield of 2.74%. Southwest Gas Corp.’s dividend payout ratio is currently 59.02%.
In other news, SVP Eric Debonis sold 600 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $72.99, for a total transaction of $43,794.00. Following the transaction, the senior vice president now directly owns 19,694 shares of the company’s stock, valued at approximately $1,437,465.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Roy R. Centrella sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $71.54, for a total transaction of $71,540.00. Following the transaction, the chief financial officer now directly owns 31,618 shares in the company, valued at $2,261,951.72. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its position in Southwest Gas Corp. by 0.5% in the first quarter. Barclays PLC now owns 28,003 shares of the company’s stock worth $1,820,000 after buying an additional 134 shares during the period. AMP Capital Investors Ltd boosted its position in Southwest Gas Corp. by 2.2% in the first quarter. AMP Capital Investors Ltd now owns 25,367 shares of the company’s stock worth $1,688,000 after buying an additional 557 shares during the period. Renaissance Technologies LLC boosted its position in Southwest Gas Corp. by 57.8% in the first quarter. Renaissance Technologies LLC now owns 186,000 shares of the company’s stock worth $12,248,000 after buying an additional 68,100 shares during the period. Wellington Management Group LLP boosted its position in Southwest Gas Corp. by 27.3% in the first quarter. Wellington Management Group LLP now owns 236,218 shares of the company’s stock worth $15,556,000 after buying an additional 50,622 shares during the period. Finally, Geode Capital Management LLC boosted its position in Southwest Gas Corp. by 10.1% in the first quarter. Geode Capital Management LLC now owns 326,281 shares of the company’s stock worth $21,485,000 after buying an additional 30,037 shares during the period. 80.16% of the stock is currently owned by institutional investors and hedge funds.
Southwest Gas Corp. Company Profile
Southwest Gas Corporation is engaged in the business of purchasing, distributing and transporting natural gas in Arizona, Nevada and California. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc, (Centuri).
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