Southwest Gas (NYSE:SWX) Sets New 1-Year High – Here’s What Happened

Shares of Southwest Gas Holdings, Inc. (NYSE:SWX) hit a new 52-week high during trading on Monday . The company traded as high as $79.38 and last traded at $79.26, with a volume of 62664 shares trading hands. The stock had previously closed at $77.51.

Wall Street Analyst Weigh In

Several research analysts have commented on SWX shares. Wells Fargo & Company lifted their price target on shares of Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th.

Southwest Gas Stock Up 0.3 %

The stock’s fifty day simple moving average is $74.75 and its 200-day simple moving average is $73.69. The stock has a market capitalization of $5.62 billion, a PE ratio of 31.95, a P/E/G ratio of 4.18 and a beta of 0.38. 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 (NYSE:SWX) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 net margin of 3.44% and a return on equity of 5.99%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, sell-side analysts forecast that Southwest Gas Holdings, Inc. will post 3.16 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, February 18th. Southwest Gas’s payout ratio is currently 100.00%.

Insider Activity at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total value of $106,668,600.00. Following the completion of the sale, the insider now directly owns 9,632,604 shares of the company’s stock, valued at $739,206,030.96. This trade represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Southwest Gas

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Southwest Gas by 1.0% during the 3rd quarter. State Street Corp now owns 2,256,637 shares of the utilities provider’s stock worth $166,450,000 after purchasing an additional 22,013 shares during the period. Maverick Capital Ltd. boosted its holdings in shares of Southwest Gas by 18.5% in the third quarter. Maverick Capital Ltd. now owns 1,765,148 shares of the utilities provider’s stock worth $130,197,000 after buying an additional 275,992 shares during the period. Geode Capital Management LLC raised its position in shares of Southwest Gas by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,450,755 shares of the utilities provider’s stock valued at $107,027,000 after purchasing an additional 19,922 shares during the period. Bank of New York Mellon Corp lifted its position in Southwest Gas by 6.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,053,094 shares of the utilities provider’s stock worth $74,117,000 after buying an additional 68,254 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Southwest Gas by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 985,566 shares of the utilities provider’s stock worth $69,370,000 after purchasing an additional 84,987 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

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.