Southwest Gas Corporation $SWX Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Southwest Gas Corporation (NYSE:SWX) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 846,251 shares of the utilities provider’s stock after purchasing an additional 86,456 shares during the quarter. Bank of New York Mellon Corp’s holdings in Southwest Gas were worth $73,539,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Maverick Capital Ltd. raised its holdings in shares of Southwest Gas by 4.8% during the fourth quarter. Maverick Capital Ltd. now owns 2,048,053 shares of the utilities provider’s stock valued at $163,885,000 after acquiring an additional 94,535 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in Southwest Gas by 16.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,648,496 shares of the utilities provider’s stock worth $131,913,000 after acquiring an additional 228,496 shares during the period. Geode Capital Management LLC grew its stake in Southwest Gas by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,602,100 shares of the utilities provider’s stock valued at $128,219,000 after acquiring an additional 9,515 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Southwest Gas by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,060,751 shares of the utilities provider’s stock valued at $84,883,000 after purchasing an additional 5,882 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in shares of Southwest Gas by 0.4% during the fourth quarter. Gabelli Funds LLC now owns 1,014,287 shares of the utilities provider’s stock worth $81,163,000 after purchasing an additional 4,145 shares during the period. Institutional investors and hedge funds own 92.77% of the company’s stock.

Southwest Gas Stock Up 0.8%

SWX opened at $92.94 on Thursday. The business has a 50 day moving average of $89.24 and a 200-day moving average of $87.76. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 2.18 and a beta of 0.58. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 0.84. Southwest Gas Corporation has a 1-year low of $75.75 and a 1-year high of $94.46.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.03. The firm had revenue of $585.12 million during the quarter, compared to the consensus estimate of $695.52 million. Southwest Gas had a net margin of 19.95% and a return on equity of 6.95%. The business’s revenue was down 21.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. As a group, sell-side analysts anticipate that Southwest Gas Corporation will post 4.27 earnings per share for the current year.

Southwest Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.645 dividend. This represents a $2.58 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, August 17th. Southwest Gas’s payout ratio is 37.39%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SWX. Weiss Ratings raised shares of Southwest Gas from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Southwest Gas from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Mizuho raised their price target on Southwest Gas from $96.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. Wells Fargo & Company began coverage on shares of Southwest Gas in a research report on Monday, May 11th. They set an “overweight” rating and a $105.00 price objective on the stock. Finally, Citigroup boosted their target price on shares of Southwest Gas from $99.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $97.29.

Southwest Gas Company Profile

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.