JPMorgan Chase & Co. Has $138.90 Million Stock Position in Southwest Gas Corporation $SWX

JPMorgan Chase & Co. increased its holdings in Southwest Gas Corporation (NYSE:SWX) by 146.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,773,068 shares of the utilities provider’s stock after acquiring an additional 1,054,963 shares during the period. JPMorgan Chase & Co. owned about 2.46% of Southwest Gas worth $138,902,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Southwest Gas in the second quarter worth approximately $63,338,000. AQR Capital Management LLC increased its stake in Southwest Gas by 78.0% in the 2nd quarter. AQR Capital Management LLC now owns 404,836 shares of the utilities provider’s stock valued at $29,970,000 after buying an additional 177,421 shares during the period. Maverick Capital Ltd. lifted its position in Southwest Gas by 9.1% in the 2nd quarter. Maverick Capital Ltd. now owns 1,993,671 shares of the utilities provider’s stock worth $148,309,000 after buying an additional 167,114 shares in the last quarter. Sourcerock Group LLC acquired a new stake in shares of Southwest Gas during the 2nd quarter valued at $8,942,000. Finally, Millennium Management LLC boosted its stake in shares of Southwest Gas by 74.7% during the 1st quarter. Millennium Management LLC now owns 209,934 shares of the utilities provider’s stock valued at $15,073,000 after buying an additional 89,761 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Southwest Gas Price Performance

Shares of NYSE:SWX opened at $87.47 on Friday. The stock has a market capitalization of $6.31 billion, a P/E ratio of 13.63, a P/E/G ratio of 2.31 and a beta of 0.65. The business has a 50-day moving average of $83.03 and a two-hundred day moving average of $80.60. Southwest Gas Corporation has a fifty-two week low of $64.69 and a fifty-two week high of $88.74. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.55 and a quick ratio of 1.43.

Analyst Ratings Changes

SWX has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Southwest Gas in a report on Monday, December 29th. Citigroup raised Southwest Gas from a “neutral” rating to a “buy” rating and raised their price target for the stock from $82.00 to $99.00 in a research note on Thursday, January 15th. Finally, Mizuho set a $96.00 price target on Southwest Gas in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Southwest Gas presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.40.

About Southwest Gas

Southwest Gas Corporation (NYSE: SWX) is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company’s core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation’s larger natural gas utilities by customer count.