Southwest Gas (NYSE:SWX) Hits New 52-Week High – Here’s Why

Shares of Southwest Gas Holdings, Inc. (NYSE:SWX) hit a new 52-week high on Tuesday . The stock traded as high as $79.20 and last traded at $79.11, with a volume of 307267 shares traded. The stock had previously closed at $77.43.

Analyst Ratings Changes

Several brokerages recently weighed in on SWX. Wells Fargo & Company boosted their target price on 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. dropped their target price 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 Trading Up 2.2 %

The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.07 and a beta of 0.38. The company has a fifty day moving average price of $73.98 and a 200-day moving average price of $73.61. 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 issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, research analysts expect that Southwest Gas Holdings, Inc. will post 3.13 EPS for the current year.

Southwest Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.13%. Southwest Gas’s dividend payout ratio is presently 100.00%.

Insider Activity at Southwest Gas

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the business’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 directly owns 43,438 shares in the company, valued at approximately $3,177,055.32. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Southwest Gas

Large investors have recently bought and sold shares of the company. UMB Bank n.a. increased its stake in Southwest Gas by 67.2% during the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after buying an additional 160 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Southwest Gas by 154.8% in the second quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 260 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of Southwest Gas in the third quarter valued at approximately $40,000. Blue Trust Inc. grew its position in shares of Southwest Gas by 96.6% in the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 282 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Southwest Gas in the second quarter valued at approximately $49,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

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.