Southwest Gas (NYSE:SWX) Posts Earnings Results, Beats Estimates By $0.02 EPS

Southwest Gas (NYSE:SWX) issued its earnings results on Wednesday. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02, Briefing.com reports. Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was down 7.7% on a year-over-year basis.

Southwest Gas Stock Performance

Southwest Gas stock traded down $0.62 during trading hours on Thursday, reaching $73.03. 93,826 shares of the company were exchanged, compared to its average volume of 379,101. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 3.83 and a beta of 0.38. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.38. The stock has a 50-day moving average of $73.12 and a 200 day moving average of $73.54. Southwest Gas has a 12 month low of $57.03 and a 12 month high of $79.03.

Southwest Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.40%. Southwest Gas’s payout ratio is currently 98.41%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on 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 increased their price objective on Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th.

Insiders Place Their Bets

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $73.14, for a total transaction of $56,098.38. Following the completion of the sale, the chief financial officer now owns 43,438 shares of the company’s stock, valued at $3,177,055.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.39% 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.