Southwest Gas Corp. (NYSE:SWX) – Equities research analysts at Jefferies Group cut their Q3 2016 EPS estimates for Southwest Gas Corp. in a report released on Thursday. Jefferies Group analyst C. Sighinolfi now anticipates that the firm will earn $0.00 per share for the quarter, down from their prior estimate of $0.01. Jefferies Group has a “Hold” rating and a $65.00 price objective on the stock. Jefferies Group also issued estimates for Southwest Gas Corp.’s FY2018 earnings at $3.68 EPS and FY2019 earnings at $3.67 EPS.
Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Southwest Gas Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. Citigroup Inc. raised their price target on Southwest Gas Corp. from $62.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Finally, Argus reissued a “hold” rating on shares of Southwest Gas Corp. in a research note on Thursday, September 8th. Five equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $71.50.
Shares of Southwest Gas Corp. (NYSE:SWX) opened at 66.77 on Friday. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 21.81 and a beta of 0.54. The company’s 50 day moving average is $69.40 and its 200-day moving average is $70.93. Southwest Gas Corp. has a 1-year low of $50.53 and a 1-year high of $79.58.
Southwest Gas Corp. (NYSE:SWX) last released its earnings results on Monday, August 8th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. Southwest Gas Corp. had a net margin of 5.90% and a return on equity of 9.07%. The firm had revenue of $547.70 million for the quarter, compared to analyst estimates of $559.21 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Thursday, November 10th. Southwest Gas Corp.’s dividend payout ratio is currently 59.02%.
In other news, SVP Eric Debonis sold 600 shares of Southwest Gas Corp. stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Roy R. Centrella sold 1,000 shares of Southwest Gas Corp. stock in a transaction dated Wednesday, September 21st. The shares were 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.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD raised its position in Southwest Gas Corp. by 7.6% in the first quarter. BlackRock Group LTD now owns 100,078 shares of the company’s stock valued at $6,590,000 after buying an additional 7,080 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Southwest Gas Corp. by 4.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,233,773 shares of the company’s stock valued at $81,244,000 after buying an additional 47,840 shares in the last quarter. BlackRock Inc. raised its position in Southwest Gas Corp. by 13.6% in the first quarter. BlackRock Inc. now owns 44,329 shares of the company’s stock valued at $2,920,000 after buying an additional 5,304 shares in the last quarter. Teacher Retirement System of Texas raised its position in Southwest Gas Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,631 shares of the company’s stock valued at $522,000 after buying an additional 802 shares in the last quarter. Finally, Calvert Investment Management Inc. raised its position in Southwest Gas Corp. by 2.6% in the second quarter. Calvert Investment Management Inc. now owns 10,601 shares of the company’s stock valued at $834,000 after buying an additional 271 shares in the last quarter. 80.16% 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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