Southwest Gas Corp. (NYSE:SWX) – Equities research analysts at Jefferies Group upped their FY2017 earnings per share (EPS) estimates for Southwest Gas Corp. in a research report issued to clients and investors on Thursday. Jefferies Group analyst C. Sighinolfi now forecasts that the brokerage will post earnings per share of $3.53 for the year, up from their previous estimate of $3.52. Jefferies Group has a “Hold” rating and a $65.00 price objective on the stock.
Southwest Gas Corp. (NYSE:SWX) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Southwest Gas Corp. had a return on equity of 9.07% and a net margin of 5.90%. The company had revenue of $547.70 million for the quarter, compared to analysts’ expectations of $559.21 million. During the same period last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis.
A number of other research firms also recently weighed in on SWX. Citigroup Inc. lifted their price objective on Southwest Gas Corp. from $62.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Argus reaffirmed a “hold” rating on shares of Southwest Gas Corp. in a report on Thursday, September 8th. Finally, Zacks Investment Research raised Southwest Gas Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Five research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $72.75.
Shares of Southwest Gas Corp. (NYSE:SWX) traded up 0.369% during trading on Monday, hitting $69.285. The stock had a trading volume of 68,724 shares. Southwest Gas Corp. has a 52 week low of $50.53 and a 52 week high of $79.58. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 22.627 and a beta of 0.54. The stock’s 50 day moving average is $69.28 and its 200 day moving average is $71.02.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, November 10th. Southwest Gas Corp.’s payout ratio is currently 59.02%.
In other news, SVP Eric Debonis sold 600 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $72.99, for a total value of $43,794.00. Following the transaction, the senior vice president now directly owns 19,694 shares of the company’s stock, valued at approximately $1,437,465.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Roy R. Centrella sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $71.54, for a total value of $71,540.00. Following the completion of the transaction, the chief financial officer now directly owns 31,618 shares in the company, valued at $2,261,951.72. The disclosure for this sale can be found here. 1.34% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SWX. Barclays PLC increased its position in shares of Southwest Gas Corp. by 0.5% in the first quarter. Barclays PLC now owns 28,003 shares of the company’s stock valued at $1,820,000 after buying an additional 134 shares during the last quarter. AMP Capital Investors Ltd increased its position in shares of Southwest Gas Corp. by 2.2% in the first quarter. AMP Capital Investors Ltd now owns 25,367 shares of the company’s stock valued at $1,688,000 after buying an additional 557 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Southwest Gas Corp. by 57.8% in the first quarter. Renaissance Technologies LLC now owns 186,000 shares of the company’s stock valued at $12,248,000 after buying an additional 68,100 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Southwest Gas Corp. by 27.3% in the first quarter. Wellington Management Group LLP now owns 236,218 shares of the company’s stock valued at $15,556,000 after buying an additional 50,622 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Southwest Gas Corp. by 10.1% in the first quarter. Geode Capital Management LLC now owns 326,281 shares of the company’s stock valued at $21,485,000 after buying an additional 30,037 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.
About Southwest Gas Corp.
Southwest Gas Corporation is engaged in the business of purchasing, distributing and transporting natural gas in Arizona, Nevada and California. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc, (Centuri).
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