Brokerages Set Southwest Gas Corporation (NYSE:SWX) Target Price at $75.00

Shares of Southwest Gas Corporation (NYSE:SWXGet Free Report) have been assigned an average rating of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $75.00.

A number of research firms have issued reports on SWX. Wall Street Zen cut Southwest Gas from a “buy” rating to a “hold” rating in a research report on Sunday, June 15th. Bank of America upgraded Southwest Gas from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $69.00 to $74.00 in a research report on Friday, May 23rd. JPMorgan Chase & Co. decreased their target price on Southwest Gas from $79.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Finally, LADENBURG THALM/SH SH upgraded Southwest Gas to a “strong-buy” rating in a research report on Friday, May 9th.

Check Out Our Latest Research Report on SWX

Hedge Funds Weigh In On Southwest Gas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zimmer Partners LP lifted its stake in Southwest Gas by 884.4% in the fourth quarter. Zimmer Partners LP now owns 910,615 shares of the utilities provider’s stock valued at $64,390,000 after buying an additional 818,115 shares during the period. Norges Bank acquired a new position in Southwest Gas in the fourth quarter valued at approximately $51,011,000. Adage Capital Partners GP L.L.C. lifted its stake in Southwest Gas by 72.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the utilities provider’s stock valued at $111,290,000 after buying an additional 650,000 shares during the period. Nuveen LLC acquired a new position in Southwest Gas in the first quarter valued at approximately $31,686,000. Finally, JPMorgan Chase & Co. lifted its stake in Southwest Gas by 83.3% in the fourth quarter. JPMorgan Chase & Co. now owns 505,555 shares of the utilities provider’s stock valued at $35,748,000 after buying an additional 229,739 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Stock Up 0.8%

SWX stock opened at $74.39 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. Southwest Gas has a fifty-two week low of $64.31 and a fifty-two week high of $80.29. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.01 and a beta of 0.47. The business’s fifty day moving average price is $72.33 and its two-hundred day moving average price is $72.74.

Southwest Gas (NYSE:SWXGet Free Report) last issued its quarterly earnings results on Monday, May 12th. The utilities provider reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.04. Southwest Gas had a return on equity of 6.76% and a net margin of 4.66%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business earned $1.37 earnings per share. Southwest Gas’s revenue was down 18.0% on a year-over-year basis. On average, equities analysts anticipate that Southwest Gas will post 3.03 earnings per share for the current year.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, August 15th. Southwest Gas’s dividend payout ratio is currently 79.74%.

Southwest Gas Company Profile

(Get Free Report

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.

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Analyst Recommendations for Southwest Gas (NYSE:SWX)

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