Jane Street Group LLC Acquires 105,852 Shares of Southwest Gas Corporation $SWX

Key Points

• Jane Street Group LLC significantly increased its stake in Southwest Gas Corporation by 217.3%, owning 154,568 shares worth approximately $11.1 million as of the latest quarter.
• Analysts have recently upgraded their ratings for Southwest Gas, with price targets ranging from $75.00 to $88.00, and currently an average rating of "Moderate Buy."
• Southwest Gas reported earnings of $0.53 per share for the last quarter, surpassing expectations, but experienced a 5.2% decline in revenue year-over-year.

Jane Street Group LLC raised its holdings in Southwest Gas Corporation (NYSE:SWX - Free Report) by 217.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154,568 shares of the utilities provider's stock after purchasing an additional 105,852 shares during the period. Jane Street Group LLC owned about 0.21% of Southwest Gas worth $11,098,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position 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 worth $33,000 after acquiring an additional 422 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Southwest Gas by 144.0% in the first 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 lifted its stake in 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 in the last quarter. Quarry LP raised its stake in Southwest Gas by 118.3% in the first quarter. Quarry LP now owns 751 shares of the utilities provider's stock valued at $54,000 after buying an additional 407 shares during the period. Finally, UMB Bank n.a. grew its position in shares of Southwest Gas by 41.2% in the first 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 during the last quarter. 92.77% of the stock is currently owned by institutional investors.

Southwest Gas Stock Up 0.8%

Shares of SWX stock traded up $0.59 during trading on Wednesday, reaching $79.06. The company's stock had a trading volume of 530,528 shares, compared to its average volume of 340,595. The stock's 50-day moving average price is $78.26 and its 200 day moving average price is $74.55. Southwest Gas Corporation has a 1-year low of $64.69 and a 1-year high of $80.54. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.94. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 2.03 and a beta of 0.55.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.11. Southwest Gas had a net margin of 4.06% and a return on equity of 6.98%. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The company's revenue was down 5.2% on a year-over-year basis. On average, research analysts anticipate that Southwest Gas Corporation will post 3.03 EPS for the current year.

Southwest Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. Southwest Gas's payout ratio is 92.54%.

Analyst Ratings Changes

SWX has been the subject of a number of research reports. Jefferies Financial Group increased their price target on shares of Southwest Gas from $82.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Bank of America upgraded shares of Southwest Gas from a "neutral" rating to a "buy" rating and lifted their target price for the company from $76.00 to $84.00 in a research note on Friday, August 29th. Wall Street Zen upgraded shares of Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Southwest Gas has a consensus rating of "Moderate Buy" and an average target price of $81.25.

About Southwest Gas

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.