Deutsche Bank AG Makes New Investment in Southwest Gas Corporation $SWX

Key Points

• Deutsche Bank acquired 94,484 shares of Southwest Gas in the second quarter, worth approximately $8.4 million, while institutional investors collectively own 92.77% of the company.
• Southwest Gas reported quarterly EPS of $0.45, in line with estimates, but revenue fell 9.6% year over year to $358.2 million, below analyst expectations.
• The company declared a quarterly dividend of $0.645, representing an annualized yield of 2.9%; analysts maintain a “Moderate Buy” consensus with an average price target of $98.29.

Deutsche Bank AG bought a new stake in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 94,484 shares of the utilities provider's stock, valued at approximately $8,379,000. Deutsche Bank AG owned 0.13% of Southwest Gas as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SWX. Bell Investment Advisors Inc bought a new position in shares of Southwest Gas during the second quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in Southwest Gas by 223.5% during the second quarter. EverSource Wealth Advisors LLC now owns 440 shares of the utilities provider's stock valued at $33,000 after buying an additional 304 shares during the period. Kingdom Financial Group LLC. bought a new position in Southwest Gas in the fourth quarter worth approximately $56,000. Harbour Investments Inc. raised its stake in Southwest Gas by 301.0% in the fourth quarter. Harbour Investments Inc. now owns 834 shares of the utilities provider's stock worth $67,000 after buying an additional 626 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Southwest Gas by 21.3% during the second quarter. Daiwa Securities Group Inc. now owns 939 shares of the utilities provider's stock worth $70,000 after buying an additional 165 shares during the period. Institutional investors own 92.77% of the company's stock.

Southwest Gas Trading Up 0.1%

NYSE:SWX opened at $88.98 on Monday. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 2.11 and a beta of 0.57. Southwest Gas Corporation has a 52 week low of $76.17 and a 52 week high of $94.46. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $90.68 and a 200 day moving average of $89.09.

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. Southwest Gas had a net margin of 31.85% and a return on equity of 6.91%. The business had revenue of $358.15 million for the quarter, compared to analyst estimates of $416.20 million. During the same period in the previous year, the company earned ($0.18) earnings per share. The business's revenue for the quarter was down 9.6% on a year-over-year basis. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. As a group, sell-side analysts anticipate that Southwest Gas Corporation will post 4.25 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a $0.645 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 2.9%. Southwest Gas's dividend payout ratio (DPR) is presently 33.68%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SWX. Citigroup increased their target price on Southwest Gas from $99.00 to $106.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised Southwest Gas from a "neutral" rating to an "overweight" rating and set a $100.00 price target for the company in a research report on Thursday, May 7th. Wall Street Zen cut Southwest Gas from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Mizuho set a $103.00 price objective on Southwest Gas in a research report on Wednesday, August 5th. Finally, Weiss Ratings downgraded Southwest Gas from a "buy (a-)" rating to a "buy (b)" rating in a research report on Monday, August 17th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $98.29.

About Southwest Gas

Southwest Gas Corporation NYSE: SWX is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company's core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation's larger natural gas utilities by customer count.

Want to see what other hedge funds are holding SWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Gas Corporation (NYSE:SWX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source