Atria Wealth Solutions Inc. boosted its position in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) by 99.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,219 shares of the utilities provider's stock after acquiring an additional 3,600 shares during the period. Atria Wealth Solutions Inc.'s holdings in Southwest Gas were worth $518,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Southwest Gas by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,030,283 shares of the utilities provider's stock valued at $72,850,000 after acquiring an additional 27,407 shares during the period. Zimmer Partners LP grew its stake in shares of Southwest Gas by 884.4% in the 4th quarter. Zimmer Partners LP now owns 910,615 shares of the utilities provider's stock valued at $64,390,000 after purchasing an additional 818,115 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of Southwest Gas by 111.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the utilities provider's stock valued at $63,639,000 after purchasing an additional 475,000 shares during the period. Northern Trust Corp grew its stake in shares of Southwest Gas by 13.6% in the 4th quarter. Northern Trust Corp now owns 818,023 shares of the utilities provider's stock valued at $57,842,000 after purchasing an additional 97,709 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Southwest Gas by 4.9% in the 4th quarter. ProShare Advisors LLC now owns 471,659 shares of the utilities provider's stock valued at $33,351,000 after purchasing an additional 21,919 shares during the period. 92.77% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on SWX shares. JPMorgan Chase & Co. lowered their price objective on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $69.00 to $74.00 in a research note on Friday, May 23rd. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. Jefferies Financial Group upgraded Southwest Gas from a "hold" rating to a "buy" rating and upped their price objective for the company from $74.00 to $82.00 in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded Southwest Gas from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $77.25.
View Our Latest Analysis on Southwest Gas
Southwest Gas Price Performance
NYSE SWX traded down $1.78 during trading hours on Friday, reaching $77.69. 564,619 shares of the company's stock were exchanged, compared to its average volume of 370,990. The stock has a market cap of $5.59 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 2.03 and a beta of 0.49. Southwest Gas Corporation has a one year low of $64.69 and a one year high of $80.54. The firm has a fifty day moving average of $76.19 and a 200-day moving average of $74.25. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.07.
Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.17 billion. Southwest Gas had a return on equity of 6.98% and a net margin of 4.06%. Southwest Gas's revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. On average, equities research analysts predict that Southwest Gas Corporation will post 3.03 earnings per share for the current fiscal year.
About Southwest Gas
(
Free Report)
Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.
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