Zacks Research Weighs in on Southwest Gas Holdings, Inc.’s Q3 2024 Earnings (NYSE:SWX)

Southwest Gas Holdings, Inc. (NYSE:SWX) – Stock analysts at Zacks Research increased their Q3 2024 earnings per share estimates for shares of Southwest Gas in a report issued on Tuesday, April 9th. Zacks Research analyst R. Department now anticipates that the utilities provider will post earnings per share of $0.11 for the quarter, up from their prior estimate of $0.05. The consensus estimate for Southwest Gas’ current full-year earnings is $3.41 per share. Zacks Research also issued estimates for Southwest Gas’ Q4 2024 earnings at $1.07 EPS, FY2024 earnings at $3.38 EPS, Q2 2025 earnings at $0.61 EPS and Q4 2025 earnings at $1.62 EPS.

Several other analysts also recently weighed in on the stock. Citigroup lifted their price target on shares of Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. StockNews.com upgraded Southwest Gas from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th.

Southwest Gas Trading Down 0.5 %

Shares of SWX opened at $73.02 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 3.70 and a beta of 0.36. The company has a 50-day moving average of $68.26 and a 200 day moving average of $63.25. Southwest Gas has a 1-year low of $53.79 and a 1-year high of $76.75.

Southwest Gas (NYSE:SWX) last released its earnings results on Wednesday, February 28th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.16. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.27 billion. Southwest Gas had a return on equity of 7.28% and a net margin of 2.78%.

Southwest Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be given a $0.62 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.40%. Southwest Gas’s payout ratio is presently 116.98%.

Hedge Funds Weigh In On Southwest Gas

Several institutional investors have recently bought and sold shares of SWX. Raymond James & Associates grew its stake in Southwest Gas by 0.6% in the first quarter. Raymond James & Associates now owns 22,510 shares of the utilities provider’s stock valued at $1,762,000 after purchasing an additional 145 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Southwest Gas by 7.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,088 shares of the utilities provider’s stock valued at $477,000 after buying an additional 432 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Southwest Gas by 22.1% in the 1st quarter. HighTower Advisors LLC now owns 17,171 shares of the utilities provider’s stock worth $1,345,000 after buying an additional 3,109 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Southwest Gas by 20.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,146 shares of the utilities provider’s stock valued at $1,890,000 after acquiring an additional 4,126 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Southwest Gas by 23.3% during the first quarter. Great West Life Assurance Co. Can now owns 76,924 shares of the utilities provider’s stock worth $6,296,000 after purchasing an additional 14,531 shares in the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Southwest Gas Company Profile

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.