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 increased its stake in Southwest Gas Corporation (NYSE:SWX - Free Report) by 191.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,104 shares of the utilities provider's stock after purchasing an additional 4,007 shares during the period. Bayforest Capital Ltd's holdings in Southwest Gas were worth $438,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Southwest Gas by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,696,651 shares of the utilities provider's stock worth $473,520,000 after purchasing an additional 38,710 shares during the last quarter. FMR LLC boosted its stake in shares of Southwest Gas by 3.3% during the 4th quarter. FMR LLC now owns 3,322,085 shares of the utilities provider's stock worth $234,905,000 after buying an additional 105,549 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Southwest Gas by 2.7% in the 4th 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 in the last quarter. Zimmer Partners LP increased its position in shares of Southwest Gas by 884.4% in the fourth quarter. Zimmer Partners LP now owns 910,615 shares of the utilities provider's stock valued at $64,390,000 after acquiring an additional 818,115 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Southwest Gas by 111.8% in the fourth 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 acquiring an additional 475,000 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Stock Performance

NYSE SWX traded up $1.77 on Monday, reaching $79.62. The stock had a trading volume of 328,503 shares, compared to its average volume of 432,056. 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 cap of $5.73 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.99 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 $73.84. Southwest Gas Corporation has a 1-year low of $64.31 and a 1-year high of $80.29.

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

Analysts Set New Price Targets

A number of brokerages have commented on SWX. Bank of America upgraded shares of Southwest Gas from an "underperform" rating to a "neutral" rating and increased their price target for the company from $69.00 to $74.00 in a research note on Friday, May 23rd. Jefferies Financial Group upgraded Southwest Gas from a "hold" rating to a "buy" rating and lifted their price target for the stock from $74.00 to $82.00 in a report on Tuesday, July 8th. Wall Street Zen raised Southwest Gas from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. dropped their price target 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. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.