ARP Americas LP lowered its stake in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,900 shares of the utilities provider’s stock after selling 226 shares during the quarter. ARP Americas LP’s holdings in Southwest Gas were worth $476,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in Southwest Gas during the 4th quarter worth $2,934,000. Ellevest Inc. boosted its position in Southwest Gas by 47.7% during the 1st quarter. Ellevest Inc. now owns 629 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 203 shares during the period. Pearl River Capital LLC acquired a new position in Southwest Gas during the 1st quarter worth $61,000. Verus Capital Partners LLC acquired a new position in Southwest Gas during the 4th quarter worth $72,000. Finally, Sowell Financial Services LLC acquired a new position in Southwest Gas during the 1st quarter worth $71,000. Institutional investors and hedge funds own 85.65% of the company’s stock.
A number of research analysts have issued reports on the company. Zacks Investment Research lowered Southwest Gas from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on Southwest Gas from $85.00 to $81.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Citigroup reduced their price target on Southwest Gas from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Jefferies Financial Group dropped their price objective on Southwest Gas from $72.00 to $69.00 and set a “hold” rating on the stock in a research note on Friday, July 24th. Finally, Wells Fargo & Co boosted their price objective on Southwest Gas from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $77.83.
Shares of Southwest Gas stock traded down $0.21 on Friday, reaching $69.64. 266,093 shares of the company were exchanged, compared to its average volume of 256,096. The stock has a fifty day moving average price of $68.67 and a 200-day moving average price of $71.94. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 3.03 and a beta of 0.26. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.91. Southwest Gas Holdings Inc has a fifty-two week low of $45.68 and a fifty-two week high of $92.94.
Southwest Gas (NYSE:SWX) last announced its earnings results on Thursday, May 7th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.22). The company had revenue of $836.32 million for the quarter, compared to analyst estimates of $538.75 million. Southwest Gas had a return on equity of 8.37% and a net margin of 6.14%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $1.77 earnings per share. On average, equities analysts anticipate that Southwest Gas Holdings Inc will post 3.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Friday, August 14th. Southwest Gas’s dividend payout ratio (DPR) is presently 57.87%.
In other news, SVP Eric Debonis sold 400 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $75.10, for a total transaction of $30,040.00. Following the sale, the senior vice president now directly owns 12,964 shares of the company’s stock, valued at $973,596.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by insiders.
Southwest Gas Profile
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.
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