Southwest Gas (NYSE:SWX) Stock Bumped Up to Hold by Wall Street Zen

Key Points

• Wall Street Zen upgraded Southwest Gas from “sell” to “hold.” Broader analyst sentiment remains positive, with a consensus “buy” rating and an average price target of $101.25.
• Southwest Gas reported quarterly EPS of $0.20, above the $0.14 consensus estimate, but revenue of $298.18 million missed estimates of $346.50 million and fell 5.9% year over year.
• Shares opened at $91.49, within the stock’s 12-month range of $78.37 to $94.46.

Southwest Gas (NYSE:SWX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. Mizuho set a $103.00 price target on Southwest Gas in a research report on Wednesday, August 5th. Wells Fargo & Company raised their target price on shares of Southwest Gas from $105.00 to $107.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Weiss Ratings lowered Southwest Gas from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, September 14th. Jefferies Financial Group reiterated a "buy" rating and issued a $106.00 price target on shares of Southwest Gas in a research report on Monday, October 5th. Finally, Scotiabank assumed coverage on Southwest Gas in a research report on Tuesday, September 29th. They set a "sector outperform" rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to MarketBeat.com, Southwest Gas has an average rating of "Buy" and a consensus price target of $101.25.

Southwest Gas Stock Performance

NYSE SWX opened at $91.49 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.12 and a debt-to-equity ratio of 0.83. Southwest Gas has a 12-month low of $78.37 and a 12-month high of $94.46. The firm has a market cap of $6.63 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 1.97 and a beta of 0.55. The company's 50 day moving average is $87.12 and its 200-day moving average is $88.35.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. Southwest Gas had a return on equity of 6.79% and a net margin of 31.85%. The company had revenue of $298.18 million for the quarter, compared to the consensus estimate of $346.50 million. During the same quarter in the prior year, the business posted $3.74 EPS. The firm's quarterly revenue was down 5.9% compared to the same quarter last year. Sell-side analysts predict that Southwest Gas will post 4.27 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Julie Williams sold 2,500 shares of Southwest Gas stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $81.81, for a total transaction of $204,525.00. Following the sale, the senior vice president owned 26,450 shares in the company, valued at approximately $2,163,874.50. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.63% of the company's stock.

Institutional Trading of Southwest Gas

A number of hedge funds have recently bought and sold shares of SWX. Fisher Asset Management LLC acquired a new stake in Southwest Gas in the third quarter worth $2,687,000. Russell Investments Group Ltd. grew its position in shares of Southwest Gas by 31.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 310,377 shares of the utilities provider's stock valued at $25,308,000 after acquiring an additional 74,881 shares during the period. Eurizon Capital SGR S.p.A. lifted its holdings in shares of Southwest Gas by 169.5% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 318 shares of the utilities provider's stock worth $26,000 after acquiring an additional 200 shares during the last quarter. R Squared Ltd boosted its holdings in Southwest Gas by 107.0% in the third quarter. R Squared Ltd now owns 7,656 shares of the utilities provider's stock worth $624,000 after acquiring an additional 3,957 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in Southwest Gas by 2.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 62,346 shares of the utilities provider's stock worth $5,084,000 after buying an additional 1,279 shares in the last quarter. 92.77% of the stock is owned by institutional investors.

Southwest Gas Company Profile

Southwest Gas Corporation NYSE: SWX is a regulated natural gas distribution utility serving residential, commercial and industrial customers. The company purchases, transports and delivers natural gas through its distribution networks, while also providing services related to system operations, maintenance, customer support and energy conservation.

Southwest Gas serves communities in Arizona, Nevada and portions of California. Its service territory includes major metropolitan areas such as Las Vegas and Phoenix, as well as numerous smaller communities across the southwestern United States.

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