Southwest Gas (SWX) Stock Rating Lowered by ValuEngine

Southwest Gas (NYSE:SWX) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Friday, March 30th. UBS reissued a “buy” rating and set a $89.00 price objective (down from $93.00) on shares of Southwest Gas in a research report on Friday, March 2nd. Williams Capital started coverage on shares of Southwest Gas in a research report on Tuesday, April 10th. They set a “hold” rating and a $73.00 price objective on the stock. Jefferies Group reissued a “hold” rating and set a $69.00 price objective on shares of Southwest Gas in a research report on Wednesday, March 28th. Finally, Citigroup cut their price objective on shares of Southwest Gas from $82.00 to $73.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $76.00.

SWX stock traded down $0.34 during trading on Thursday, hitting $71.10. 114,463 shares of the stock traded hands, compared to its average volume of 229,735. Southwest Gas has a 1 year low of $71.93 and a 1 year high of $73.02. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 19.64 and a beta of 0.51. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.10 and a current ratio of 1.10.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Monday, May 7th. The utilities provider reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.03. Southwest Gas had a net margin of 7.69% and a return on equity of 10.32%. The company had revenue of $754.30 million for the quarter, compared to the consensus estimate of $524.56 million. During the same period in the prior year, the firm posted $1.45 EPS. Southwest Gas’s revenue for the quarter was up 15.2% on a year-over-year basis. research analysts predict that Southwest Gas will post 3.58 earnings per share for the current fiscal year.

In other news, SVP Eric Debonis sold 600 shares of the firm’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $72.87, for a total transaction of $43,722.00. Following the sale, the senior vice president now owns 13,629 shares of the company’s stock, valued at approximately $993,145.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas A. Thomas purchased 1,000 shares of the company’s stock in a transaction dated Friday, May 11th. The shares were bought at an average cost of $72.91 per share, for a total transaction of $72,910.00. Following the acquisition, the director now owns 27,280 shares in the company, valued at $1,988,984.80. The disclosure for this purchase can be found here. Company insiders own 0.99% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SWX. YorkBridge Wealth Partners LLC lifted its stake in shares of Southwest Gas by 14.4% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,268 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 160 shares during the period. Flinton Capital Management LLC bought a new position in shares of Southwest Gas in the 4th quarter worth approximately $114,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Southwest Gas by 6.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,575 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 98 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Southwest Gas by 7.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 118 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of Southwest Gas by 580.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,110 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 1,800 shares during the period. 81.01% of the stock is currently owned by hedge funds and other institutional investors.

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 Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.

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