Algert Global LLC Buys 124,069 Shares of Southwest Gas Corporation $SWX

Algert Global LLC raised its stake in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) by 58.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 334,640 shares of the utilities provider's stock after buying an additional 124,069 shares during the quarter. Southwest Gas comprises about 0.4% of Algert Global LLC's investment portfolio, making the stock its 29th biggest holding. Algert Global LLC owned about 0.46% of Southwest Gas worth $29,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in Southwest Gas by 74.7% during the 1st quarter. Millennium Management LLC now owns 209,934 shares of the utilities provider's stock valued at $15,073,000 after purchasing an additional 89,761 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Southwest Gas by 14.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,852 shares of the utilities provider's stock worth $13,703,000 after acquiring an additional 24,688 shares during the last quarter. M&T Bank Corp bought a new position in Southwest Gas in the 2nd quarter valued at approximately $213,000. Arrowstreet Capital Limited Partnership lifted its position in Southwest Gas by 70.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 36,647 shares of the utilities provider's stock valued at $2,726,000 after acquiring an additional 15,127 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Southwest Gas by 2.6% during the 2nd quarter. Invesco Ltd. now owns 393,080 shares of the utilities provider's stock valued at $29,241,000 after purchasing an additional 10,122 shares during the last quarter. 92.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on SWX shares. UBS Group set a $100.00 target price on Southwest Gas in a report on Thursday, May 7th. Weiss Ratings cut Southwest Gas from a "buy (a-)" rating to a "buy (b)" rating in a research report on Monday, August 17th. Mizuho set a $103.00 price objective on Southwest Gas in a report on Wednesday, August 5th. Wall Street Zen lowered Southwest Gas from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Wells Fargo & Company raised their price target on shares of Southwest Gas from $105.00 to $107.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.29.

Southwest Gas Stock Up 0.8%

Southwest Gas stock opened at $89.56 on Tuesday. Southwest Gas Corporation has a one year low of $76.17 and a one year high of $94.46. The stock has a fifty day moving average of $90.71 and a 200 day moving average of $89.14. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.71 and a current ratio of 0.83. The stock has a market cap of $6.49 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57.

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.45. The business had revenue of $358.15 million during the quarter, compared to the consensus estimate of $416.20 million. Southwest Gas had a return on equity of 6.91% and a net margin of 31.85%.The business's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.18) EPS. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. As a group, sell-side analysts predict that Southwest Gas Corporation will post 4.25 EPS for the current year.

Southwest Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.645 per share. This represents a $2.58 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 17th. Southwest Gas's dividend payout ratio (DPR) is currently 33.68%.

Southwest Gas Profile

Southwest Gas Corporation NYSE: SWX is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company's core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation's larger natural gas utilities by customer count.

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