Southwest Gas Corporation (SWX) Given Average Recommendation of “Hold” by Brokerages
Southwest Gas Corporation (NYSE:SWX) has earned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $78.00.
A number of equities analysts have recently issued reports on the company. Jefferies Group LLC raised Southwest Gas Corporation from an “underperform” rating to a “hold” rating and increased their price target for the stock from $68.00 to $70.00 in a research report on Wednesday, July 12th. BidaskClub cut Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th.
Shares of Southwest Gas Corporation (SWX) traded up 0.01% during midday trading on Wednesday, hitting $80.24. 404,818 shares of the company traded hands. The stock has a 50 day moving average of $79.54 and a 200-day moving average of $80.66. The stock has a market capitalization of $3.82 billion, a PE ratio of 24.84 and a beta of 0.60. Southwest Gas Corporation has a 52 week low of $64.26 and a 52 week high of $86.65.
Southwest Gas Corporation (NYSE:SWX) last released its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.09. Southwest Gas Corporation had a return on equity of 9.09% and a net margin of 6.46%. The company had revenue of $560.50 million for the quarter, compared to analyst estimates of $564.84 million. During the same quarter in the prior year, the firm posted $0.19 EPS. Southwest Gas Corporation’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that Southwest Gas Corporation will post $3.42 earnings per share for the current fiscal year.
In related news, SVP Karen S. Haller sold 1,300 shares of Southwest Gas Corporation stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.95, for a total transaction of $105,235.00. Following the transaction, the senior vice president now owns 26,639 shares in the company, valued at $2,156,427.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Kenneth J. Kenny sold 600 shares of Southwest Gas Corporation stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.90, for a total value of $48,540.00. Following the transaction, the vice president now owns 17,137 shares in the company, valued at approximately $1,386,383.30. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in SWX. YorkBridge Wealth Partners LLC increased its stake in Southwest Gas Corporation by 14.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,268 shares of the utilities provider’s stock worth $106,000 after buying an additional 160 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Southwest Gas Corporation by 7.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock worth $126,000 after buying an additional 118 shares during the last quarter. Flinton Capital Management LLC boosted its stake in shares of Southwest Gas Corporation by 69.7% in the second quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock worth $177,000 after buying an additional 992 shares during the last quarter. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Southwest Gas Corporation during the first quarter worth $205,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of Southwest Gas Corporation by 74.8% in the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock worth $204,000 after buying an additional 1,197 shares during the last quarter. Hedge funds and other institutional investors own 76.85% of the company’s stock.
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About Southwest Gas Corporation
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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