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

Southwest Gas (NYSE:SWX) released 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. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.35 billion.

Southwest Gas Trading Down 2.1 %

Shares of NYSE SWX traded down $1.59 during mid-day trading on Thursday, hitting $73.77. 110,205 shares of the company traded hands, compared to its average volume of 346,723. Southwest Gas has a 1 year low of $62.48 and a 1 year high of $80.29. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 3.16 and a beta of 0.44. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The business has a 50 day moving average of $73.27 and a two-hundred day moving average of $73.65.

Southwest Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued 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 100.00%.

Analyst Upgrades and Downgrades

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

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.