Bayforest Capital Ltd Buys 4,007 Shares of Southwest Gas Corporation (NYSE:SWX)

Key Points

• Bayforest Capital Ltd increased its stake in Southwest Gas Corporation by 191.1%, acquiring an additional 4,007 shares during the first quarter, bringing its total holdings to 6,104 shares valued at approximately $438,000.
• Several institutional investors enhanced their positions in Southwest Gas, with Zimmer Partners LP significantly boosting its holdings by 884.4% during the fourth quarter.
• The latest earnings report showed Southwest Gas beat expectations with earnings per share of $1.65, despite a year-over-year revenue decline of 18.0% to $1.30 billion.

Bayforest Capital Ltd lifted its stake in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) by 191.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,104 shares of the utilities provider's stock after acquiring an additional 4,007 shares during the period. Bayforest Capital Ltd's holdings in Southwest Gas were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of Southwest Gas during the 1st quarter valued at $63,000. Picton Mahoney Asset Management acquired a new position in Southwest Gas during the first quarter worth $1,072,000. Mackenzie Financial Corp raised its holdings in Southwest Gas by 41.8% during the first quarter. Mackenzie Financial Corp now owns 14,001 shares of the utilities provider's stock worth $1,005,000 after buying an additional 4,129 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in Southwest Gas by 2.7% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 23,126 shares of the utilities provider's stock worth $1,660,000 after buying an additional 611 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in Southwest Gas by 40.4% during the first quarter. Cetera Investment Advisers now owns 10,976 shares of the utilities provider's stock worth $788,000 after buying an additional 3,159 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Stock Down 0.4%

Shares of NYSE SWX traded down $0.33 during trading on Friday, hitting $77.81. The stock had a trading volume of 423,496 shares, compared to its average volume of 398,045. Southwest Gas Corporation has a 12 month low of $64.31 and a 12 month high of $80.29. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $5.60 billion, a PE ratio of 25.02, a PEG ratio of 2.00 and a beta of 0.49. The firm has a fifty day moving average of $74.74 and a two-hundred day moving average of $73.79.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its earnings results on Monday, May 12th. The utilities provider reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.04. Southwest Gas had a net margin of 4.66% and a return on equity of 6.76%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $1.37 EPS. The business's revenue was down 18.0% compared to the same quarter last year. As a group, equities research analysts forecast that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SWX has been the topic of several research reports. Wall Street Zen upgraded shares of Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. JPMorgan Chase & Co. lowered their price objective on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Jefferies Financial Group upgraded shares of Southwest Gas from a "hold" rating to a "buy" rating and upped their price objective for the stock from $74.00 to $82.00 in a report on Tuesday, July 8th. Finally, Bank of America upgraded shares of Southwest Gas from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $69.00 to $74.00 in a report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Southwest Gas currently has an average rating of "Moderate Buy" and a consensus price target of $77.25.

Southwest Gas Company Profile

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.