Bayforest Capital Ltd raised its position in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) by 191.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,104 shares of the utilities provider's stock after purchasing an additional 4,007 shares during the quarter. Bayforest Capital Ltd's holdings in Southwest Gas were worth $438,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SWX. Farther Finance Advisors LLC boosted its stake in Southwest Gas by 1,055.0% during the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 422 shares in the last quarter. Headlands Technologies LLC boosted its stake in Southwest Gas by 144.0% during the 1st quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 301 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Southwest Gas by 1,001.8% during the 1st quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 551 shares in the last quarter. Quarry LP boosted its stake in Southwest Gas by 118.3% during the 1st quarter. Quarry LP now owns 751 shares of the utilities provider's stock valued at $54,000 after purchasing an additional 407 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Southwest Gas by 41.2% during the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 243 shares in the last quarter. 92.77% of the stock is owned by institutional investors.
Southwest Gas Stock Performance
SWX stock traded up $0.60 during trading on Monday, reaching $79.14. 87,697 shares of the stock were exchanged, compared to its average volume of 422,066. Southwest Gas Corporation has a twelve month low of $64.69 and a twelve month high of $80.54. The company has a market capitalization of $5.70 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.55. The stock has a 50 day simple moving average of $77.99 and a 200-day simple moving average of $74.46. 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 earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. Southwest Gas had a return on equity of 6.98% and a net margin of 4.06%.The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business earned $0.25 earnings per share. The firm's revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Southwest Gas Corporation will post 3.03 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have issued reports on SWX. Jefferies Financial Group increased their price target on Southwest Gas from $82.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. reduced their price objective on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Bank of America raised Southwest Gas from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $76.00 to $84.00 in a research note on Friday, August 29th. Finally, Wall Street Zen upgraded Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Southwest Gas has an average rating of "Moderate Buy" and a consensus price target of $81.25.
View Our Latest Stock Report on Southwest Gas
Southwest Gas Company Profile
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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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