Royal Bank of Canada Cuts Stake in Southwest Gas Holdings Inc (NYSE:SWX)

Royal Bank of Canada cut its stake in Southwest Gas Holdings Inc (NYSE:SWX) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,320 shares of the utilities provider’s stock after selling 14,750 shares during the quarter. Royal Bank of Canada owned about 0.28% of Southwest Gas worth $10,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SWX. Janus Henderson Group PLC bought a new stake in Southwest Gas in the first quarter valued at about $96,128,000. Macquarie Group Ltd. increased its holdings in Southwest Gas by 48.3% in the fourth quarter. Macquarie Group Ltd. now owns 2,885,520 shares of the utilities provider’s stock valued at $219,213,000 after buying an additional 939,784 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Southwest Gas by 214,104.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 664,033 shares of the utilities provider’s stock valued at $46,190,000 after buying an additional 663,723 shares during the last quarter. Invesco Ltd. increased its holdings in Southwest Gas by 55.5% in the first quarter. Invesco Ltd. now owns 1,468,185 shares of the utilities provider’s stock valued at $102,128,000 after buying an additional 523,846 shares during the last quarter. Finally, Norges Bank bought a new stake in Southwest Gas in the fourth quarter valued at about $39,148,000. 85.41% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on SWX shares. JPMorgan Chase & Co. decreased their target price on Southwest Gas from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Co lifted their target price on Southwest Gas from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. Citigroup decreased their target price on Southwest Gas from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. Jefferies Financial Group downgraded Southwest Gas from a “buy” rating to a “hold” rating and set a $72.00 target price for the company. in a research note on Friday, April 24th. Finally, UBS Group upgraded Southwest Gas from a “neutral” rating to a “buy” rating and decreased their target price for the company from $83.00 to $78.00 in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $78.33.

Shares of NYSE SWX opened at $67.52 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.91. The stock has a 50 day simple moving average of $71.29 and a 200-day simple moving average of $72.89. The company has a market cap of $3.61 billion, a PE ratio of 19.35, a P/E/G ratio of 2.90 and a beta of 0.28. Southwest Gas Holdings Inc has a 12-month low of $45.68 and a 12-month high of $92.94.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.22). The business had revenue of $836.32 million for the quarter, compared to analyst estimates of $538.75 million. Southwest Gas had a return on equity of 8.37% and a net margin of 6.14%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. Sell-side analysts forecast that Southwest Gas Holdings Inc will post 3.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.57 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.28 dividend on an annualized basis and a yield of 3.38%. Southwest Gas’s dividend payout ratio (DPR) is 57.87%.

In other Southwest Gas news, SVP Eric Debonis sold 400 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $75.10, for a total value of $30,040.00. Following the completion of the sale, the senior vice president now directly owns 12,964 shares in the company, valued at $973,596.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.

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 two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.

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Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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