Southwest Gas Corp. (NYSE:SWX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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 subject of several other reports. Argus downgraded Southwest Gas Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Citigroup Inc. raised their target price on Southwest Gas Corp. from $62.00 to $79.00 and gave the company a “neutral” rating in a research note 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 for the company. in a research note on Monday, July 25th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $71.25.
Southwest Gas Corp. (NYSE:SWX) opened at 72.63 on Tuesday. Southwest Gas Corp. has a 12 month low of $50.53 and a 12 month high of $79.58. The firm’s 50-day moving average price is $71.69 and its 200-day moving average price is $70.50. The firm has a market cap of $3.45 billion, a P/E ratio of 23.72 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 for the quarter, topping the Zacks’ 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 firm earned $547.70 million during the quarter, compared to the consensus estimate of $559.21 million. During the same period last year, the business posted $0.13 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts expect that Southwest Gas Corp. will post $3.17 EPS for the current fiscal year.
In related news, SVP Eric Debonis sold 600 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $72.99, for a total value of $43,794.00. Following the transaction, the senior vice president now owns 19,694 shares of the company’s stock, valued at approximately $1,437,465.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.34% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. boosted its position in shares of 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. Northwestern Mutual Investment Management Company LLC acquired a new position in shares of Southwest Gas Corp. during the second quarter valued at $645,000. Mason Street Advisors LLC acquired a new position in shares of Southwest Gas Corp. during the second quarter valued at $1,725,000. Calvert Investment Management Inc. boosted its position in shares of Southwest Gas Corp. by 784.3% in the second quarter. Calvert Investment Management Inc. now owns 91,350 shares of the company’s stock valued at $7,190,000 after buying an additional 81,020 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Southwest Gas Corp. by 15.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 379,809 shares of the company’s stock valued at $29,895,000 after buying an additional 51,098 shares during the last quarter. 80.16% of the stock is currently owned by institutional investors and hedge funds.
Southwest Gas Corp. Company Profile
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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