Southwest Gas Corporation (SWX) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Southwest Gas Corporation (NYSE:SWX) have earned a consensus recommendation of “Hold” from the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $78.00.

Several analysts recently commented on SWX shares. Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price objective on shares of Southwest Gas Corporation in a research note on Monday, October 16th. KeyCorp restated a “hold” rating on shares of Southwest Gas Corporation in a report on Friday, September 1st. Zacks Investment Research raised shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, BidaskClub cut shares of Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st.

Shares of Southwest Gas Corporation (NYSE:SWX) traded down $0.11 during trading hours on Monday, hitting $80.39. 33,513 shares of the stock were exchanged, compared to its average volume of 201,314. The stock has a market capitalization of $3,832.43, a price-to-earnings ratio of 25.24, a PEG ratio of 3.65 and a beta of 0.61. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.98. Southwest Gas Corporation has a fifty-two week low of $69.85 and a fifty-two week high of $86.65.

Southwest Gas Corporation (NYSE:SWX) last released its earnings results on Monday, August 7th. The utilities provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.09. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The company had revenue of $560.50 million during the quarter, compared to analysts’ expectations of $564.84 million. During the same quarter last year, the business earned $0.19 EPS. The business’s revenue was up 2.3% on a year-over-year basis. sell-side analysts expect that Southwest Gas Corporation will post 3.42 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.495 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.98 annualized dividend and a yield of 2.46%. Southwest Gas Corporation’s payout ratio is 61.11%.

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In other Southwest Gas Corporation news, VP Kenneth J. Kenny sold 600 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $80.90, for a total value of $48,540.00. Following the completion of the sale, the vice president now directly owns 17,137 shares of the company’s stock, valued at approximately $1,386,383.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Karen S. Haller sold 1,300 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $80.95, for a total transaction of $105,235.00. Following the completion of the sale, the senior vice president now directly owns 26,639 shares of the company’s stock, valued at $2,156,427.05. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Farmers & Merchants Investments Inc. increased its holdings in shares of Southwest Gas Corporation by 0.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 3,971 shares of the utilities provider’s stock valued at $290,000 after purchasing an additional 12 shares during the period. US Bancorp DE increased its holdings in shares of Southwest Gas Corporation by 0.4% in the 2nd quarter. US Bancorp DE now owns 6,856 shares of the utilities provider’s stock valued at $501,000 after purchasing an additional 25 shares during the period. HighTower Advisors LLC increased its holdings in shares of Southwest Gas Corporation by 0.7% in the 1st quarter. HighTower Advisors LLC now owns 3,709 shares of the utilities provider’s stock valued at $307,000 after purchasing an additional 27 shares during the period. World Asset Management Inc increased its holdings in shares of Southwest Gas Corporation by 1.5% in the 2nd quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 44 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of Southwest Gas Corporation by 1.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,799 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 65 shares during the period. Institutional investors own 76.76% of the company’s stock.

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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