Southwest Gas Corporation (SWX) Price Target Raised to $82.00 at Citigroup Inc.
Southwest Gas Corporation (NYSE:SWX) had its price target upped by Citigroup Inc. from $79.00 to $82.00 in a research note published on Monday morning. The brokerage currently has a neutral rating on the utilities provider’s stock.
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Southwest Gas Corporation from a sell rating to a strong sell rating in a research note on Wednesday, August 23rd. Zacks Investment Research raised shares of Southwest Gas Corporation from a sell rating to a hold rating in a research note on Wednesday, August 16th. KeyCorp reissued a hold rating on shares of Southwest Gas Corporation in a research note on Friday, October 20th. UBS AG increased their target price on shares of Southwest Gas Corporation from $83.00 to $85.00 and gave the stock a neutral rating in a research note on Wednesday, November 8th. Finally, Jefferies Group LLC reissued a hold rating and set a $70.00 target price on shares of Southwest Gas Corporation in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Southwest Gas Corporation currently has a consensus rating of Hold and an average price target of $81.25.
Shares of Southwest Gas Corporation (SWX) opened at $82.13 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82. Southwest Gas Corporation has a 12 month low of $71.51 and a 12 month high of $86.65. The company has a market cap of $3,946.95, a price-to-earnings ratio of 24.32, a PEG ratio of 3.75 and a beta of 0.61.
Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings data on Tuesday, November 7th. The utilities provider reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.07. Southwest Gas Corporation had a net margin of 6.64% and a return on equity of 9.56%. The company had revenue of $593.15 million for the quarter, compared to analyst estimates of $579.40 million. During the same period in the prior year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. sell-side analysts anticipate that Southwest Gas Corporation will post 3.42 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, February 14th. Southwest Gas Corporation’s dividend payout ratio is presently 58.24%.
In other Southwest Gas Corporation news, SVP Eric Debonis sold 3,520 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $82.18, for a total value of $289,273.60. Following the transaction, the senior vice president now directly owns 16,060 shares of the company’s stock, valued at $1,319,810.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kenneth J. Kenny sold 600 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 16,746 shares in the company, valued at $1,342,526.82. The disclosure for this sale can be found here. 0.99% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in SWX. Macquarie Group Ltd. lifted its stake in shares of Southwest Gas Corporation by 53.9% in the second quarter. Macquarie Group Ltd. now owns 1,353,810 shares of the utilities provider’s stock valued at $98,909,000 after buying an additional 474,320 shares in the last quarter. AJO LP lifted its stake in shares of Southwest Gas Corporation by 279.6% in the second quarter. AJO LP now owns 399,472 shares of the utilities provider’s stock valued at $29,185,000 after buying an additional 294,244 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Southwest Gas Corporation by 336.6% in the second quarter. Renaissance Technologies LLC now owns 370,700 shares of the utilities provider’s stock valued at $27,083,000 after buying an additional 285,800 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Southwest Gas Corporation by 44.3% in the third quarter. Victory Capital Management Inc. now owns 492,353 shares of the utilities provider’s stock valued at $38,216,000 after buying an additional 151,106 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Southwest Gas Corporation by 1,060.3% in the second quarter. BNP Paribas Arbitrage SA now owns 124,859 shares of the utilities provider’s stock valued at $9,122,000 after buying an additional 114,098 shares in the last quarter. 75.59% of the stock is currently owned by hedge funds and other institutional investors.
Southwest Gas Corporation 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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