Southwest Gas (NYSE:SWX) Sets New 52-Week High on Strong Earnings

Southwest Gas Holdings, Inc. (NYSE:SWX)’s stock price reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $78.94 and last traded at $78.59, with a volume of 4357 shares traded. The stock had previously closed at $73.63.

The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Southwest Gas had a return on equity of 6.07% and a net margin of 3.44%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, November 15th. Southwest Gas’s dividend payout ratio (DPR) is 100.00%.

Wall Street Analyst Weigh In

SWX has been the topic of a number of recent research reports. Wells Fargo & Company boosted 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 report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price target on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th.

Insider Buying and Selling

In other news, CFO Robert J. Stefani sold 767 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $73.14, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Southwest Gas

Hedge funds have recently modified their holdings of the business. UMB Bank n.a. raised its holdings in Southwest Gas by 67.2% in the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock valued at $29,000 after buying an additional 160 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of Southwest Gas by 0.6% in the 3rd quarter. Pathstone Holdings LLC now owns 27,125 shares of the utilities provider’s stock worth $2,001,000 after acquiring an additional 165 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Southwest Gas by 4.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,303 shares of the utilities provider’s stock worth $317,000 after purchasing an additional 199 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Southwest Gas by 2.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,174 shares of the utilities provider’s stock valued at $645,000 after purchasing an additional 213 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Southwest Gas by 37.5% in the third quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 215 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas Stock Up 2.2 %

The business has a 50 day simple moving average of $73.15 and a 200 day simple moving average of $73.54. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 3.92 and a beta of 0.38. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.58 and a quick ratio of 1.58.

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.