Southwest Gas Holdings, Inc. (NYSE: SWX) Receives Consensus “Conservation” Rating From Brokerages
Southwest Gas Holdings, Inc. (NYSE: SWX) received an average recommendation of “Hold” by the six research companies that currently cover the company, reports MarketBeat. Four research analysts rated the stock with a keep recommendation and one assigned the company a buy recommendation. The twelve-month average price target among brokerage firms that issued stock ratings in the past year is $ 67.50.
Separately, Zacks investment research downgraded Southwest Gas shares from a “buy” note to a “conservation” note in a Friday, Nov. 12 research note.
Several institutional investors have recently increased or reduced their stakes in the company. BlackRock Inc. increased its position in Southwest Gas shares by 14.9% in the second quarter. BlackRock Inc. now owns 10,923,870 shares of the utility company valued at $ 723,050,000 after purchasing an additional 1,415,156 shares in the last quarter. Vanguard Group Inc. increased its position in Southwest Gas shares by 3.8% in the second quarter. Vanguard Group Inc. now owns 5,721,646 shares of the utility provider valued at $ 378,715,000 after purchasing an additional 208,393 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Southwest Gas stocks by 7.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,213,420 shares of the utility company valued at $ 212,696,000 after purchasing an additional 226,839 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Southwest Gas stocks by 11.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,436,154 shares of the utility provider valued at $ 161,249,000 after purchasing an additional 253,124 shares in the last quarter. Finally, Alliancebernstein LP increased its stake in Southwest Gas shares by 20.4% in the third quarter. Alliancebernstein LP now owns 1,904,664 shares of the utility company valued at $ 127,384,000 after purchasing an additional 322,581 shares in the last quarter. Hedge funds and other institutional investors hold 82.74% of the company’s shares.
NYSE SWX open for $ 69.29 Thursday. Southwest Gas has a 12-month low of $ 57.00 and a 12-month high of $ 73.54. The company has a market cap of $ 4.18 billion, a PE ratio of 16.94, a price / earnings-growth ratio of 3.09, and a beta of 0.21. The company’s 50-day moving average price is $ 68.48. The company has a debt to equity ratio of 1.23, a quick ratio of 1.03, and a current ratio of 1.03.
Southwest Gas (NYSE: SWX) last released its results on Tuesday, November 9. The utility provider reported EPS of $ 0.05 for the quarter, missing analyst consensus estimates of $ 0.17 per ($ 0.12). Southwest Gas reported a return on equity of 8.89% and a net margin of 6.68%. In the same quarter of the previous year, the company posted EPS of $ 0.32. Sell-side analysts expect Southwest Gas to post earnings per share of 4.04 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 1. Shareholders of record on Tuesday February 15 will receive a dividend of $ 0.595 per share. This represents an annualized dividend of $ 2.38 and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday February 14. Southwest Gas’ payout ratio is currently 58.19%.
About Southwest Gas
Southwest Gas Holdings, Inc. is engaged in the energy industry. It operates in the following segments: natural gas exploitation and utility infrastructure services. The Natural Gas Operations segment focuses on the purchase, distribution and transportation of natural gas in Arizona, California and Nevada.
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