Southwest Gas (NYSE:SWX) Hits New 1-Year High – Here’s Why

Southwest Gas Holdings, Inc. (NYSE:SWX) shares reached a new 52-week high during trading on Monday . The company traded as high as $79.38 and last traded at $79.26, with a volume of 62664 shares traded. The stock had previously closed at $77.51.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th.

Southwest Gas Price Performance

The company has a 50 day moving average price of $74.54 and a 200-day moving average price of $73.66. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 4.13 and a beta of 0.38. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts predict that Southwest Gas Holdings, Inc. will post 3.13 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a $0.62 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.13%. Southwest Gas’s dividend payout ratio is presently 100.00%.

Insider Buying and Selling

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total transaction of $106,668,600.00. Following the sale, the insider now owns 9,632,604 shares in the company, valued at $739,206,030.96. This trade represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Southwest Gas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC purchased a new position in Southwest Gas in the first quarter worth about $202,000. CANADA LIFE ASSURANCE Co raised its holdings in Southwest Gas by 4.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 79,363 shares of the utilities provider’s stock worth $6,045,000 after purchasing an additional 3,318 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Southwest Gas by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,585 shares of the utilities provider’s stock worth $4,308,000 after acquiring an additional 1,079 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Southwest Gas during the 1st quarter valued at $115,000. Finally, Paloma Partners Management Co bought a new position in Southwest Gas in the 1st quarter worth approximately $271,000. 92.77% of the stock is currently owned by institutional investors.

Southwest Gas Company Profile

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.