Amundi Has $2.02 Million Stake in Southwest Gas Corporation $SWX

Key Points

• Amundi increased its Southwest Gas position by 239.6% in the second quarter, ending with 22,767 shares valued at approximately $2.02 million. Institutional investors and hedge funds collectively own 92.77% of the company.
• Analysts remain broadly positive, with five Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $103.20.
• Southwest Gas reported quarterly EPS of $0.45, in line with estimates, although revenue declined 9.6% year over year to $358.15 million. The company also maintains a quarterly dividend of $0.645, equivalent to a 3.0% annual yield.

Amundi grew its position in Southwest Gas Corporation (NYSE:SWX - Free Report) by 239.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,767 shares of the utilities provider's stock after acquiring an additional 16,063 shares during the period. Amundi's holdings in Southwest Gas were worth $2,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SWX. BlackRock Inc. bought a new stake in shares of Southwest Gas during the 2nd quarter valued at $991,549,000. California State Teachers Retirement System boosted its position in shares of Southwest Gas by 8,513.5% in the 2nd quarter. California State Teachers Retirement System now owns 6,575,179 shares of the utilities provider's stock worth $583,087,000 after purchasing an additional 6,498,843 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Southwest Gas during the second quarter worth $74,324,000. Norges Bank acquired a new stake in shares of Southwest Gas during the fourth quarter worth $66,930,000. Finally, Bank of America Corp DE bought a new stake in Southwest Gas in the second quarter valued at about $39,572,000. 92.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SWX shares. Wells Fargo & Company raised their target price on Southwest Gas from $105.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Mizuho set a $103.00 price target on Southwest Gas in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Southwest Gas from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, August 31st. Finally, Wall Street Zen lowered shares of Southwest Gas from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $103.20.

Southwest Gas Trading Up 0.1%

NYSE:SWX opened at $86.20 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 0.99. The business's 50-day simple moving average is $90.60 and its 200-day simple moving average is $89.40. Southwest Gas Corporation has a fifty-two week low of $76.74 and a fifty-two week high of $94.46. The stock has a market capitalization of $6.24 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 2.05 and a beta of 0.57.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The utilities provider reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $358.15 million for the quarter, compared to the consensus estimate of $416.20 million. Southwest Gas had a net margin of 31.85% and a return on equity of 6.79%. The business's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the company posted ($0.18) EPS. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. Sell-side analysts expect that Southwest Gas Corporation will post 4.25 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a $0.645 dividend. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, August 17th. Southwest Gas's payout ratio is 33.68%.

About Southwest Gas

Southwest Gas Holdings, Inc is a regulated energy company that provides natural gas distribution services through its subsidiary, Southwest Gas Corporation. The utility delivers natural gas to residential, commercial and industrial customers, primarily in Arizona, Nevada and portions of California, serving communities across the desert Southwest.

The company's utility operations include the acquisition, transportation and distribution of natural gas through a network of pipelines and related infrastructure.

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