Southwest Gas (NYSE:SWX) Receives Underperform Rating from Bank of America

Bank of America reaffirmed their underperform rating on shares of Southwest Gas (NYSE:SWX) in a report published on Friday, MarketBeat reports. Bank of America currently has a $73.00 target price on the utilities provider’s stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on shares of Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.50.

Southwest Gas Stock Performance

Shares of SWX stock opened at $72.85 on Friday. The stock’s 50-day moving average is $75.38 and its two-hundred day moving average is $73.68. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. Southwest Gas has a 1 year low of $57.55 and a 1 year high of $80.29. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 3.84 and a beta of 0.41.

Southwest Gas (NYSE:SWX) last announced its earnings results 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. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. During the same period in the prior year, the firm earned $0.10 EPS. The business’s revenue was down 7.7% on a year-over-year basis. Analysts predict that Southwest Gas will post 3.16 earnings per share for the current year.

Southwest Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Tuesday, February 18th. Southwest Gas’s dividend payout ratio (DPR) is presently 100.00%.

Insider Activity at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 9,632,604 shares in the company, valued at approximately $739,206,030.96. The trade was a 12.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.39% of the stock is currently owned by insiders.

Institutional Trading of Southwest Gas

Several hedge funds have recently modified their holdings of SWX. UMB Bank n.a. raised its position in Southwest Gas by 67.2% in the third quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 160 shares in the last quarter. Pathstone Holdings LLC boosted its position in shares of Southwest Gas by 0.6% during the 3rd quarter. Pathstone Holdings LLC now owns 27,125 shares of the utilities provider’s stock worth $2,001,000 after purchasing an additional 165 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Southwest Gas by 4.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,303 shares of the utilities provider’s stock worth $317,000 after purchasing an additional 199 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Southwest Gas by 2.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,174 shares of the utilities provider’s stock valued at $645,000 after purchasing an additional 213 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Southwest Gas by 37.5% in the third quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 215 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

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.