Hsbc Holdings PLC Buys 24,165 Shares of Southwest Gas Corporation $SWX

Key Points

• Hsbc Holdings PLC raised its holdings in Southwest Gas Corporation's shares by 32.9%, acquiring an additional 24,165 shares and bringing its total to 97,711 shares valued at approximately $7 million.
• Southwest Gas reported a quarterly earnings increase with $0.53 earnings per share beating analysts' estimates, despite a 5.2% year-over-year revenue decline.
• Recent analyst reports have upgraded Southwest Gas with a consensus rating of "Moderate Buy" and an average target price of $77.25, indicating positive market sentiment.

Hsbc Holdings PLC increased its stake in Southwest Gas Corporation (NYSE:SWX - Free Report) by 32.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,711 shares of the utilities provider's stock after acquiring an additional 24,165 shares during the period. Hsbc Holdings PLC owned about 0.14% of Southwest Gas worth $7,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SWX. Farther Finance Advisors LLC lifted its stake in shares of Southwest Gas by 1,055.0% in the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 422 shares during the last quarter. Headlands Technologies LLC lifted its stake in shares of Southwest Gas by 144.0% in the 1st quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 301 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Southwest Gas by 1,001.8% in the 1st quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock valued at $44,000 after acquiring an additional 551 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Southwest Gas by 41.2% in the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 243 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Southwest Gas by 78.8% in the 1st quarter. GAMMA Investing LLC now owns 869 shares of the utilities provider's stock valued at $62,000 after acquiring an additional 383 shares during the last quarter. Institutional investors own 92.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SWX. LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. Bank of America raised Southwest Gas from a "neutral" rating to a "buy" rating and upped their price target for the company from $76.00 to $84.00 in a research report on Friday. Jefferies Financial Group raised Southwest Gas from a "hold" rating to a "buy" rating and upped their price target for the company from $74.00 to $82.00 in a research report on Tuesday, July 8th. JPMorgan Chase & Co. lowered their price target 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. Finally, Wall Street Zen raised Southwest Gas from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $79.75.

Southwest Gas Stock Up 2.5%

Shares of NYSE:SWX traded up $1.97 during trading on Friday, hitting $79.81. The stock had a trading volume of 458,956 shares, compared to its average volume of 376,027. Southwest Gas Corporation has a 12 month low of $64.69 and a 12 month high of $80.54. The company has a market capitalization of $5.74 billion, a PE ratio of 29.78, a PEG ratio of 2.04 and a beta of 0.49. The firm's fifty day moving average is $77.14 and its 200 day moving average is $74.35. 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 earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.11. Southwest Gas had a return on equity of 6.98% and a net margin of 4.06%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The business's revenue was down 5.2% compared to the same quarter last year. Analysts anticipate that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.

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.