Shares of Southwest Gas Corporation (NYSE:SWX) have earned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $81.25.
Several brokerages recently commented on SWX. Zacks Investment Research raised shares of Southwest Gas from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Citigroup boosted their price target on shares of Southwest Gas from $79.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 20th. BidaskClub lowered shares of Southwest Gas from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Jefferies Group reissued a “hold” rating and issued a $70.00 price target on shares of Southwest Gas in a report on Monday, October 16th. Finally, KeyCorp reissued a “hold” rating on shares of Southwest Gas in a report on Friday, September 1st.
Southwest Gas (SWX) traded down $0.57 during trading hours on Friday, hitting $85.66. 381,284 shares of the stock traded hands, compared to its average volume of 264,451. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $4,115.92, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. Southwest Gas has a 52-week low of $71.51 and a 52-week high of $86.87.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, February 14th. Southwest Gas’s payout ratio is presently 58.24%.
In other Southwest Gas news, VP Kenneth J. Kenny sold 600 shares of Southwest Gas stock in a transaction on Monday, November 13th. The shares were sold at an average price of $80.17, for a total transaction of $48,102.00. Following the sale, the vice president now owns 16,746 shares of the company’s stock, valued at approximately $1,342,526.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Eric Debonis sold 3,520 shares of Southwest Gas stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $82.18, for a total transaction of $289,273.60. Following the sale, the senior vice president now directly owns 16,060 shares in the company, valued at approximately $1,319,810.80. The disclosure for this sale can be found here. In the last three months, insiders sold 5,120 shares of company stock valued at $423,096. 0.99% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SWX. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Southwest Gas by 7.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 118 shares during the last quarter. Flinton Capital Management LLC boosted its stake in Southwest Gas by 69.7% during the 2nd quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock worth $177,000 after purchasing an additional 992 shares during the last quarter. Riverhead Capital Management LLC boosted its position in shares of Southwest Gas by 74.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 1,197 shares during the last quarter. Ashfield Capital Partners LLC acquired a new position in shares of Southwest Gas during the 3rd quarter valued at about $212,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Southwest Gas during the 2nd quarter valued at about $213,000. 77.50% of the stock is currently owned by institutional investors.
About Southwest Gas
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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