Freestone Grove Partners LP Acquires Shares of 12,331 Southwest Gas Corporation $SWX

Key Points

• Freestone Grove Partners acquired 12,331 shares of Southwest Gas worth approximately $1.09 million, while institutional investors and hedge funds collectively own 92.77% of the company.
• Southwest Gas reported quarterly EPS of $0.45, matching estimates, but revenue fell 9.6% year over year to $358.15 million. The company maintained FY 2026 EPS guidance of $4.17–$4.32.
• The utility declared a quarterly dividend of $0.645, representing a 2.9% yield, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $100.67.

Freestone Grove Partners LP bought a new stake in Southwest Gas Corporation (NYSE:SWX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,331 shares of the utilities provider's stock, valued at approximately $1,094,000.

A number of other large investors have also recently made changes to their positions in SWX. Bank of America Corp DE increased its stake in Southwest Gas by 54.8% in the first quarter. Bank of America Corp DE now owns 395,336 shares of the utilities provider's stock worth $34,355,000 after purchasing an additional 139,872 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Southwest Gas by 204.5% during the first quarter. Quantinno Capital Management LP now owns 38,073 shares of the utilities provider's stock valued at $3,309,000 after purchasing an additional 25,569 shares during the period. Jennison Associates LLC purchased a new stake in shares of Southwest Gas during the fourth quarter valued at $1,086,000. Horizon Investments LLC bought a new position in shares of Southwest Gas in the fourth quarter worth about $1,361,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Southwest Gas in the first quarter worth about $3,799,000. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Stock Performance

Shares of Southwest Gas stock opened at $88.94 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.71 and a debt-to-equity ratio of 0.83. The stock's fifty day moving average price is $90.83 and its 200-day moving average price is $89.28. The firm has a market cap of $6.44 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.12 and a beta of 0.57. Southwest Gas Corporation has a 12 month low of $76.59 and a 12 month high of $94.46.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its 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. The company had revenue of $358.15 million for the quarter, compared to analysts' expectations of $416.20 million. Southwest Gas had a net margin of 31.85% and a return on equity of 6.79%. The firm's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.18) EPS. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. On average, equities research analysts expect that Southwest Gas Corporation will post 4.25 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Mizuho set a $103.00 price target on Southwest Gas in a research report on Wednesday, August 5th. UBS Group set a $100.00 price objective on Southwest Gas in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised shares of Southwest Gas from a "neutral" rating to an "overweight" rating and set a $100.00 price objective on the stock in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Southwest Gas from a "buy (a-)" rating to a "buy (b)" rating in a report on Monday, August 17th. Finally, Wells Fargo & Company boosted their target price on shares of Southwest Gas from $105.00 to $107.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Southwest Gas currently has an average rating of "Moderate Buy" and an average target price of $100.67.

Southwest Gas Company Profile

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