Southwest Gas Corp. (SWX) Upgraded at Zacks Investment Research
Southwest Gas Corp. (NYSE:SWX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “SOUTHWEST GAS CORP. is principally engaged in the business of purchasing, transporting, and distributing natural gas in portions of Arizona, Nevada, and California. The Company also engaged in financial services activities, through PriMerit Bank, Federal Savings Bank (PriMerit or the Bank), a wholly owned subsidiary. “
A number of other analysts have also weighed in on SWX. Jefferies Group upgraded shares of Southwest Gas Corp. from an “underperform” rating to a “hold” rating and set a $65.00 target price on the stock in a research note on Thursday, October 13th. Argus restated a “hold” rating on shares of Southwest Gas Corp. in a research note on Thursday, September 8th. Finally, Citigroup Inc. upped their target price on shares of Southwest Gas Corp. from $62.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $71.50.
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Southwest Gas Corp. (NYSE:SWX) opened at 67.90 on Tuesday. The firm’s 50-day moving average is $69.33 and its 200-day moving average is $71.01. Southwest Gas Corp. has a 52-week low of $50.53 and a 52-week high of $79.58. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 22.18 and a beta of 0.54.
Southwest Gas Corp. (NYSE:SWX) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $547.70 million for the quarter, compared to analyst estimates of $559.21 million. Southwest Gas Corp. had a net margin of 5.90% and a return on equity of 9.07%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. Analysts predict that Southwest Gas Corp. will post $3.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, November 10th. Southwest Gas Corp.’s dividend payout ratio (DPR) is 59.02%.
In related news, CFO Roy R. Centrella sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $71.54, for a total value of $71,540.00. Following the completion of the transaction, the chief financial officer now directly owns 31,618 shares of the company’s stock, valued at $2,261,951.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eric Debonis sold 600 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $72.99, for a total value of $43,794.00. Following the completion of the transaction, the senior vice president now directly owns 19,694 shares of the company’s stock, valued at $1,437,465.06. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. acquired a new position in shares of Southwest Gas Corp. during the second quarter worth about $106,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Southwest Gas Corp. during the second quarter worth about $190,000. Ashfield Capital Partners LLC acquired a new position in shares of Southwest Gas Corp. during the second quarter worth about $215,000. Stifel Financial Corp acquired a new position in shares of Southwest Gas Corp. during the second quarter worth about $218,000. Finally, M&T Bank Corp acquired a new position in shares of Southwest Gas Corp. during the second quarter worth about $223,000. 80.17% of the stock is owned by hedge funds and other institutional investors.
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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