According to Zacks, “SOUTHWEST GAS CORP. is principally engaged in the business of purchasing, transporting, and distributing natural gas in portions of Arizona, Nevada, and California. The Company also engaged in financial services activities, through PriMerit Bank, Federal Savings Bank (PriMerit or the Bank), a wholly owned subsidiary. “
SWX has been the topic of a number of other reports. Argus reaffirmed a hold rating on shares of Southwest Gas Corp. in a research report on Thursday, September 8th. Citigroup Inc. upped their target price on Southwest Gas Corp. from $62.00 to $79.00 and gave the company a neutral rating in a research report on Wednesday, July 27th. Finally, Jefferies Group downgraded Southwest Gas Corp. from a hold rating to an underperform rating and set a $64.00 target price on the stock. in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company has an average rating of Hold and a consensus target price of $71.25.
Southwest Gas Corp. (NYSE:SWX) opened at 69.86 on Friday. Southwest Gas Corp. has a 12-month low of $50.53 and a 12-month high of $79.58. The stock has a 50 day moving average price of $71.11 and a 200-day moving average price of $70.88. The stock has a market capitalization of $3.32 billion, a PE ratio of 22.82 and a beta of 0.52.
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, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $547.70 million for the quarter, compared to the consensus estimate of $559.21 million. Southwest Gas Corp. had a return on equity of 9.07% and a net margin of 5.90%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, equities analysts anticipate that Southwest Gas Corp. will post $3.17 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.58%. The ex-dividend date is Thursday, November 10th. Southwest Gas Corp.’s payout ratio is 59.02%.
In other Southwest Gas Corp. news, CFO Roy R. Centrella sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $71.54, for a total value of $71,540.00. Following the sale, the chief financial officer now directly owns 31,618 shares of the company’s stock, valued at $2,261,951.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Eric Debonis sold 600 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $72.99, for a total transaction of $43,794.00. Following the completion of the sale, the senior vice president now directly owns 19,694 shares in the company, valued at $1,437,465.06. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of SWX. Brookfield Asset Management Inc. raised its stake in Southwest Gas Corp. by 134.9% in the first quarter. Brookfield Asset Management Inc. now owns 916,110 shares of the company’s stock valued at $60,326,000 after buying an additional 526,087 shares during the last quarter. State Street Corp raised its stake in Southwest Gas Corp. by 47.2% in the second quarter. State Street Corp now owns 1,598,917 shares of the company’s stock valued at $125,848,000 after buying an additional 512,734 shares during the last quarter. Vanguard Group Inc. raised its stake in Southwest Gas Corp. by 9.6% in the second quarter. Vanguard Group Inc. now owns 4,098,310 shares of the company’s stock valued at $322,579,000 after buying an additional 359,211 shares during the last quarter. Macquarie Group Ltd. raised its stake in Southwest Gas Corp. by 34.8% in the second quarter. Macquarie Group Ltd. now owns 1,290,116 shares of the company’s stock valued at $101,545,000 after buying an additional 333,337 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Southwest Gas Corp. by 25.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,547,633 shares of the company’s stock valued at $121,814,000 after buying an additional 313,860 shares during the last quarter. 80.16% of the stock is currently owned by institutional investors.
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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