Southwest Gas (NYSE:SWX) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Southwest Gas (NYSE:SWX) issued its quarterly earnings results on Wednesday. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18, Zacks reports. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%.

Southwest Gas Stock Performance

SWX traded down $1.59 during trading on Thursday, reaching $73.77. 110,205 shares of the company were exchanged, compared to its average volume of 346,723. The stock has a market cap of $5.29 billion, a P/E ratio of 29.76, a PEG ratio of 3.16 and a beta of 0.44. The firm has a 50 day moving average of $73.27 and a 200 day moving average of $73.65. 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 has a 52 week low of $62.48 and a 52 week high of $80.29.

Southwest Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, May 15th. Southwest Gas’s dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

Several analysts recently weighed in on SWX shares. LADENBURG THALM/SH SH raised shares of Southwest Gas to a “strong-buy” rating in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Jefferies Financial Group began coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They set a “hold” rating and a $73.00 target price on the stock. Finally, Bank of America restated an “underperform” rating and set a $73.00 target price on shares of Southwest Gas in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Southwest Gas has a consensus rating of “Hold” and a consensus target price of $73.80.

About Southwest Gas

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.