Southwest Gas Holdings Inc (NYSE:SWX) announced its quarterly earnings data on Monday. The utilities provider reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.63 by $0.18. Southwest Gas Holdings had a net margin of 6.11% and a return on equity of 9.26%. The company had revenue of $654.74 million for the quarter, compared to the consensus estimate of $741.80 million. During the same period last year, the business posted $1.58 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year.
Shares of Southwest Gas Holdings (NYSE:SWX) traded up 0.34% during mid-day trading on Friday, reaching $77.44. 506,039 shares of the company’s stock traded hands. Southwest Gas Holdings has a 12-month low of $64.26 and a 12-month high of $86.65. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 25.37 and a beta of 0.51. The stock has a 50-day moving average price of $82.65 and a 200 day moving average price of $79.58.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.98 annualized dividend and a yield of 2.56%. Southwest Gas Holdings’s dividend payout ratio (DPR) is presently 56.25%.
In other news, SVP Eric Debonis sold 350 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $80.02, for a total value of $28,007.00. Following the sale, the senior vice president now directly owns 20,057 shares of the company’s stock, valued at approximately $1,604,961.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.34% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Southwest Gas Holdings by 5,500.3% in the first quarter. BlackRock Inc. now owns 5,796,013 shares of the utilities provider’s stock worth $480,546,000 after buying an additional 5,692,518 shares during the period. Vanguard Group Inc. boosted its position in Southwest Gas Holdings by 19.0% in the first quarter. Vanguard Group Inc. now owns 5,332,229 shares of the utilities provider’s stock valued at $442,095,000 after buying an additional 849,583 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Southwest Gas Holdings by 8.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,673,971 shares of the utilities provider’s stock valued at $116,944,000 after buying an additional 126,338 shares during the period. State Street Corp boosted its position in Southwest Gas Holdings by 0.6% in the first quarter. State Street Corp now owns 1,597,272 shares of the utilities provider’s stock valued at $132,435,000 after buying an additional 9,239 shares during the period. Finally, Northern Trust Corp boosted its position in Southwest Gas Holdings by 13.4% in the third quarter. Northern Trust Corp now owns 1,382,682 shares of the utilities provider’s stock valued at $96,594,000 after buying an additional 163,378 shares during the period. Hedge funds and other institutional investors own 76.58% of the company’s stock.
SWX has been the topic of a number of recent research reports. Zacks Investment Research cut Southwest Gas Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, March 23rd. Bank of America Corp cut Southwest Gas Holdings from a “buy” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research note on Monday, March 6th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reissued a “sell” rating and issued a $68.00 target price on shares of Southwest Gas Holdings in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Southwest Gas Holdings presently has a consensus rating of “Hold” and a consensus price target of $80.75.
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Southwest Gas Holdings Company Profile
Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc (Centuri).
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