Southwest Gas (NYSE:SWX) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Southwest Gas (NYSE:SWXFree Report) in a report released on Monday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $77.00 target price on the utilities provider’s stock.

Separately, Citigroup increased their price target on shares of Southwest Gas from $64.00 to $73.00 and gave the company a neutral rating in a report on Thursday, February 29th.

Read Our Latest Stock Report on Southwest Gas

Southwest Gas Price Performance

Shares of SWX stock opened at $75.84 on Monday. Southwest Gas has a 52 week low of $55.39 and a 52 week high of $77.16. The stock’s fifty day moving average is $74.01 and its 200-day moving average is $65.75. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $5.44 billion, a PE ratio of 28.42, a PEG ratio of 3.73 and a beta of 0.36.

Southwest Gas (NYSE:SWXGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.33). The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.38 billion. Southwest Gas had a return on equity of 6.71% and a net margin of 3.56%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $1.69 earnings per share. Equities research analysts expect that Southwest Gas will post 3.42 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.27%. The ex-dividend date is Thursday, August 15th. Southwest Gas’s payout ratio is 92.88%.

Institutional Investors Weigh In On Southwest Gas

Institutional investors have recently modified their holdings of the business. FMR LLC raised its stake in Southwest Gas by 519.3% in the 3rd quarter. FMR LLC now owns 782,898 shares of the utilities provider’s stock worth $47,295,000 after purchasing an additional 656,473 shares in the last quarter. Norges Bank bought a new stake in shares of Southwest Gas in the fourth quarter valued at approximately $36,054,000. Wellington Management Group LLP boosted its stake in shares of Southwest Gas by 24.4% in the fourth quarter. Wellington Management Group LLP now owns 1,059,348 shares of the utilities provider’s stock valued at $67,110,000 after buying an additional 207,798 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Southwest Gas by 160.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 325,000 shares of the utilities provider’s stock worth $19,633,000 after buying an additional 200,000 shares in the last quarter. Finally, Carronade Capital Management LP increased its stake in Southwest Gas by 34.1% during the 3rd quarter. Carronade Capital Management LP now owns 585,394 shares of the utilities provider’s stock worth $35,364,000 after acquiring an additional 148,826 shares during the period. Institutional investors own 92.77% of the company’s stock.

About Southwest Gas

(Get Free Report)

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.

Further Reading

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