Deutsche Bank AG Has $5.37 Million Stock Holdings in Southwest Gas Corporation $SWX

Key Points

• Deutsche Bank AG reduced its stake in Southwest Gas by 33.3%, selling 37,412 shares, and now holds approximately 74,800 shares worth $5.37 million.
• Southwest Gas reported a quarterly earnings per share (EPS) of $0.53, exceeding analysts' expectations of $0.42, despite a 5.2% decline in revenue year-over-year.
• Equities analysts have recently upgraded Southwest Gas, with Bank of America raising its rating to "neutral" and adjusting the target price to $74.00.

Deutsche Bank AG trimmed its stake in Southwest Gas Corporation (NYSE:SWX - Free Report) by 33.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,800 shares of the utilities provider's stock after selling 37,412 shares during the quarter. Deutsche Bank AG owned approximately 0.10% of Southwest Gas worth $5,371,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC boosted its position in shares of Southwest Gas by 1,001.8% in the first quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock worth $44,000 after buying an additional 551 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of Southwest Gas by 99.5% in the first quarter. Atria Wealth Solutions Inc. now owns 7,219 shares of the utilities provider's stock worth $518,000 after buying an additional 3,600 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Southwest Gas by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,680 shares of the utilities provider's stock worth $2,452,000 after buying an additional 1,345 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Southwest Gas in the first quarter worth $952,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Southwest Gas by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 7,061 shares of the utilities provider's stock worth $506,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 92.77% of the company's stock.

Wall Street Analysts Forecast Growth

SWX has been the subject of several recent analyst reports. LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a research report on Friday, May 9th. Bank of America raised Southwest Gas from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $69.00 to $74.00 in a research report on Friday, May 23rd. 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 report on Wednesday, May 28th. Wall Street Zen raised Southwest Gas from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Jefferies Financial Group raised Southwest Gas from a "hold" rating to a "buy" rating and lifted their price objective for the company from $74.00 to $82.00 in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.25.

Southwest Gas Stock Up 0.2%

Shares of NYSE:SWX traded up $0.1310 on Thursday, reaching $76.5210. The company had a trading volume of 275,192 shares, compared to its average volume of 373,503. Southwest Gas Corporation has a twelve month low of $64.69 and a twelve month high of $80.54. The stock has a 50-day moving average price of $76.56 and a 200 day moving average price of $74.30. The stock has a market capitalization of $5.51 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.95 and a beta of 0.49. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly 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 company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business's quarterly revenue was down 5.2% compared to the same quarter last year. On average, equities analysts expect that Southwest Gas Corporation will post 3.03 EPS for the current year.

Southwest Gas 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.