JPMorgan Chase & Co. Lowers Southwest Gas (NYSE:SWX) Price Target to $72.00

Southwest Gas (NYSE:SWX) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $76.00 to $72.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 3.00% from the company’s current price.

Several other brokerages also recently weighed in on SWX. Bank of America reiterated an “underperform” rating and issued a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. Jefferies Financial Group assumed coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price target for the company. Finally, LADENBURG THALM/SH SH raised shares of Southwest Gas to a “strong-buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.80.

Southwest Gas Trading Down 0.4 %

Shares of SWX traded down $0.33 during mid-day trading on Tuesday, reaching $74.23. The company’s stock had a trading volume of 15,799 shares, compared to its average volume of 326,050. Southwest Gas has a 52 week low of $57.55 and a 52 week high of $80.29. The stock has a market cap of $5.32 billion, a PE ratio of 29.91, a P/E/G ratio of 3.02 and a beta of 0.43. The company’s fifty day moving average price is $73.09 and its two-hundred day moving average price is $73.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.12 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. On average, analysts predict that Southwest Gas will post 3.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn sold 1,390,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total value of $106,668,600.00. Following the completion of the transaction, the insider now owns 9,632,604 shares of the company’s stock, valued at approximately $739,206,030.96. This represents a 12.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Institutional Trading of Southwest Gas

A number of hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Southwest Gas during the fourth quarter worth about $207,000. Spirit of America Management Corp NY grew its stake in shares of Southwest Gas by 18.9% in the 4th quarter. Spirit of America Management Corp NY now owns 3,150 shares of the utilities provider’s stock worth $223,000 after buying an additional 500 shares during the last quarter. Clear Creek Financial Management LLC raised its stake in Southwest Gas by 5.4% during the fourth quarter. Clear Creek Financial Management LLC now owns 3,427 shares of the utilities provider’s stock valued at $242,000 after buying an additional 176 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Southwest Gas by 1.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,979 shares of the utilities provider’s stock worth $635,000 after acquiring an additional 147 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Southwest Gas by 54.0% in the fourth quarter. KBC Group NV now owns 2,832 shares of the utilities provider’s stock worth $200,000 after acquiring an additional 993 shares during the last quarter. Institutional investors own 92.77% of the company’s stock.

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.