First Trust Advisors LP Boosts Stake in Southwest Gas Corporation (SWX)

First Trust Advisors LP increased its position in shares of Southwest Gas Corporation (NYSE:SWX) by 46.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,907 shares of the utilities provider’s stock after acquiring an additional 13,687 shares during the period. First Trust Advisors LP owned about 0.09% of Southwest Gas worth $3,330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SWX. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Southwest Gas by 7.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 118 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Southwest Gas by 69.7% during the second quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock valued at $177,000 after acquiring an additional 992 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Southwest Gas by 74.8% during the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 1,197 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Southwest Gas during the second quarter valued at $213,000. Finally, World Asset Management Inc raised its stake in shares of Southwest Gas by 1.5% during the second quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock valued at $218,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 77.50% of the company’s stock.

In other Southwest Gas news, VP Kenneth J. Kenny sold 600 shares of Southwest Gas stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $80.17, for a total value of $48,102.00. Following the sale, the vice president now owns 16,746 shares of the company’s stock, valued at $1,342,526.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Eric Debonis sold 3,520 shares of Southwest Gas stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $82.18, for a total transaction of $289,273.60. Following the completion of the sale, the senior vice president now directly owns 16,060 shares in the company, valued at approximately $1,319,810.80. The disclosure for this sale can be found here. Insiders have sold 5,120 shares of company stock valued at $423,096 over the last quarter. Corporate insiders own 0.99% of the company’s stock.

Southwest Gas Corporation (NYSE SWX) traded down $0.66 during trading hours on Wednesday, reaching $82.74. 121,318 shares of the company’s stock were exchanged, compared to its average volume of 263,562. The firm has a market capitalization of $4,088.71, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61. Southwest Gas Corporation has a 1-year low of $71.51 and a 1-year high of $86.87. 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 (NYSE:SWX) last issued its quarterly earnings data on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. The firm had revenue of $593.15 million during the quarter, compared to analysts’ expectations of $579.40 million. Southwest Gas had a net margin of 6.64% and a return on equity of 9.56%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. research analysts forecast that Southwest Gas Corporation will post 3.42 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, February 14th. Southwest Gas’s dividend payout ratio is currently 58.24%.

Several equities analysts have recently issued reports on the stock. BidaskClub downgraded shares of Southwest Gas from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Citigroup lifted their target price on shares of Southwest Gas from $79.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 20th. KeyCorp reissued a “hold” rating on shares of Southwest Gas in a research note on Friday, October 20th. Zacks Investment Research raised shares of Southwest Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Jefferies Group reissued a “hold” rating and set a $70.00 target price on shares of Southwest Gas in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $81.25.

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Southwest Gas 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).

Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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