Southwest Gas Holdings Inc (NYSE:SWX) announced a quarterly dividend on Thursday, February 23rd. Stockholders of record on Monday, May 15th will be paid a dividend of 0.495 per share by the utilities provider on Thursday, June 1st. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Thursday, May 11th. This is a positive change from Southwest Gas Holdings’s previous quarterly dividend of $0.45.
Southwest Gas Holdings has raised its dividend by an average of 10.9% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Southwest Gas Holdings has a dividend payout ratio of 58.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Southwest Gas Holdings to earn $3.62 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 54.7%.
Southwest Gas Holdings (NYSE:SWX) last issued its quarterly earnings results on Monday, May 8th. The utilities provider reported $1.45 EPS for the quarter, missing the consensus estimate of $1.63 by $0.18. Southwest Gas Holdings had a return on equity of 9.26% and a net margin of 6.11%. The business 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 firm earned $1.58 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year.
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Several research analysts have recently weighed in on the stock. Jefferies Group LLC restated a “sell” rating and set a $68.00 price objective on shares of Southwest Gas Holdings in a research note on Friday, March 31st. Bank of America Corp lowered shares of Southwest Gas Holdings from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research note on Monday, March 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Southwest Gas Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Southwest Gas Holdings currently has an average rating of “Hold” and a consensus price target of $80.75.
In related news, SVP Eric Debonis sold 350 shares of the 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 completion of the transaction, the senior vice president now owns 20,057 shares of the company’s stock, valued at approximately $1,604,961.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.34% of the company’s stock.
About Southwest Gas Holdings
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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